2009-08-19-2007-03-01-2007-03-01

Licenses

Chevron North Sea Ltd., a U.K.-based subsidiary of Chevron Corp., San Ramon, Calif., (NYSE: CVX); Shell U.K. Ltd., a subsidiary of Royal Dutch Shell, London, (RDS-A); and Statoil (U.K.) Ltd., a subsidiary of Statoil ASA, Oslo, (NYSE: ST) have agreed to equalize their participating interests in licenses P234, P493, P920 and P977 offshore the U.K. to achieve more efficient appraisal and potential development of the Bressay oil discovery. Bressay is in five blocks; 3/27b, 3/28a, 3/28b, 9/2a and 9/3a. Chevron is now operator of all five blocks. The participating interests in all four licenses are now Chevron North Sea UK, 64.625%; Shell U.K. Ltd., 18.375%; and Statoil (U.K.) Ltd., 17%.