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Chevron Confirms Fire Incident on Rig Offshore Nigeria

SAN RAMON, Calif., January 16, 2011 – Chevron Corporation (NYSE: CVX) reports that its subsidiary, Chevron Nigeria Limited, is working to contain a fire that ignited early this morning aboard the K.S. Endeavor, a drilling rig offshore Nigeria operated by FODE Drilling Nigeria Limited.  The rig was drilling a natural gas exploration well, located in the Funiwa Field approximately six miles (10 kilometers) offshore and in approximately 40 feet (12 meters) of water.

One hundred and fifty-four personnel were on the rig and an associated barge. Two contractors are still unaccounted for while all others are safe and undergoing medical examinations at an adjacent production platform. Aggressive search and rescue activities continue for the two missing personnel.

"Every effort is being made to find the missing workers. They are our utmost priority," said Andrew Fawthrop, managing director, Chevron's Nigeria/Mid-Africa Strategic Business Unit. "We do not know what caused the incident. We are working diligently to contain the fire, which is restricted to the rig. Substantial resources have been deployed including well control specialists and drilling experts. We continue to work in full cooperation with Nigerian authorities and are committed to providing additional information as it becomes known."

Production from Chevron's North Apoi platform was shut in due to its proximity to the incident.

Additional updates on the incident are available at Chevron Updates.

Chevron is one of the world's leading integrated energy companies, with subsidiaries that conduct business worldwide. The company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.

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