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GUINEASIERRALEONELIBERIAMonroviaCÔTED’IVOIRELB-14LB-12LB-11ATLANTIC OCEANChevron InterestThese were the first blocks to besigned by an oil and gas super major.In 2012, ENI, a valued internationalpartner, acquired a 25 percentinterest in these three blocks,reducing Chevron’s equity to45 percent. Oranto Petroleum Ltd.,a British Virgin Islands company,holds the remaining 30 percentinterest in the blocks. Upon success,the National Oil Company of Liberia(NOCAL) will assume a 10 percentinterest, and Oranto will retain20 percent.being processed and integrated intothe company’s geologic models. Weare pleased that NOCAL has grantedChevron Liberia Limited and ourpartners the opportunity to enterinto the next phase of explorationfor both LB-11 and LB-12. This willallow Chevron Liberia Limited andour partners to drill two additionalexploration wells and to begin theprocess of prospect maturation andthe contracting of a rig to carry outthis program.The blocks are part of an emergingWest African trend, where severaldiscoveries have recently beenannounced and are located between12 miles and 110 miles (20 km and180 km) south of the Liberian capitalof Monrovia. The total area of theseblocks cover 3,700 square miles(9,600 sq km).In 2012, Chevron Liberia Limitedcompleted the drilling of twoexploration wells, Nighthawk in LB-11and Carmine Deep in LB-12, withthe Transocean drillship DiscovererSpirit. The data from these wells are2012 Corporate Responsibility Report | 5