CONFIDEN TIAL DRAFT Year
2009 2010 2011 Total
% of lifting/entitlement over production 2003 2004 2005 2006
Shell Production (bbls)
Mobil Chevron Elf Production Production (bbls) Production (bbls) (bbls)
960,061
10,508,501
45,342,125
11,154,952
8,408,407
9,645,512
43,697,662
9,409,471
5,646,750
3,411,834
24,751,615
8,604,953
36,455,795
39,569,239
240,483,469
73,537,813
Shell
Chevron
MOBIL
ELF
0%
0%
32%
0%
19%
60%
33%
1%
27%
51%
42%
32%
55%
35%
17%
32%
-
56%
50%
20%
-
48%
63%
27%
16%
48%
59%
42%
28%
39%
49%
43%
24%
14%
24%
37%
21%
38%
39%
27%
2007 2008 2009 2010 2011 Average total
Table 17: Production and Lifting Data for IOCs
20. Generous provisions in the Production Sharing Contracts Some of the provisions of the PSCs and deep offshore and inland basin Act are generous compared with other existing agreements and do not reflect current economic realities. These include: Royalty rate The payment of royalty in respect of deep offshore PSCs is graduated as follows: o In areas from 201 to 500 metres water depth 12% o From 500 to 800 metres water depth 8% o From 801 to 1000 metres water depth 4% o In areas in excess of 1000 metres water depth 0% 86