Profile: Chevron Corp (CVX)
23 Feb 2017
Chevron Corporation (Chevron), incorporated on January 27, 1926, manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream. Upstream operations consist primarily of exploring for, developing and producing crude oil and natural gas; processing, liquefaction, transportation and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; transporting, storage and marketing of natural gas, and a gas-to-liquids plant. Downstream operations consist primarily of refining crude oil into petroleum products; marketing of crude oil and refined products; transporting crude oil and refined products by pipeline, marine vessel, motor equipment and rail car, and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives.
The Company sells crude oil and natural gas from its producing operations under various contractual obligations. The Company's upstream activities in the United States are primarily located in California, the Gulf of Mexico, Colorado, Louisiana, Michigan, New Mexico, Ohio, Oklahoma, Pennsylvania, Texas, West Virginia and Wyoming. In California, the Company has production in the San Joaquin Valley. Chevron is also engaged in various exploration, development and production activities in the deepwater Gulf of Mexico. The Company has interests in the Jack Field and in the St. Malo Field. The Company has interest in the production host facility, which is designed to accommodate production from the Jack/St. Malo development and third-party tiebacks. The Company also has interest in the Tubular Bells Field, Mad Dog Field and Stampede Project. The Company is an operator of an exploration and appraisal program covering approximately 30 jointly held offshore leases in the northwest portion of Keathley Canyon.
The Company produces crude oil and natural gas in the midcontinent region of the United States, primarily in Colorado, New Mexico, Oklahoma, Texas and Wyoming. In the Permian Basin of West Texas and southeast New Mexico, development drilling of shale and tight resources in the Midland and Delaware basins focused on horizontal wells with multistage fracture stimulation, where the Company holds approximately 500,000 and 1,000,000 net acres, respectively. The Company has drilled approximately 150 wells and participated in over 180 non-operated wells in the Midland and Delaware basins. The Company holds leases in the Marcellus Shale and the Utica Shale, primarily located in southwestern Pennsylvania, eastern Ohio and the West Virginia panhandle, and in the Antrim Shale and Collingwood/Utica Shale in Michigan.
The Company's Other Americas region includes Argentina, Brazil, Canada, Colombia, Greenland, Suriname, Trinidad and Tobago, and Venezuela. The Company's Upstream activities in Canada are concentrated in Alberta, British Columbia and the offshore Atlantic region. The Company also has exploration interests in the Beaufort Sea region of the Northwest Territories. The Company holds interest in the Hibernia Field, which consists of the Hibernia and Ben Nevis Avalon (BNA) reservoirs, and in the unitized Hibernia Southern Extension (HSE) areas offshore Atlantic Canada. It holds interest in approximately two exploration blocks in the Flemish Pass Basin offshore Newfoundland and Athabasca Oil Sands Project (AOSP) in Alberta. The Company holds approximately 228,000 net acres in the Duvernay Shale in Alberta and approximately 200,000 overlying acres in the Montney tight rock formation. It holds interest in the proposed Kitimat LNG and Pacific Trail Pipeline projects, and in approximately 300,000 net acres in the Horn River and Liard shale gas basins in British Colombia. The Company has interest in Aitken Creek and in the Alberta Hub natural gas storage facilities, which has an aggregate total capacity of approximately 100 billion cubic feet.
In Greenland, it holds interest in Blocks 9 and 14 located in the Kanumas Area, offshore the northeast coast of Greenland. In the Vaca Muerta Shale formation, it holds interest in two concessions covering approximately 73,000 net acres. In addition, the Company holds operated interests in over three concessions covering 73,000 net acres in the Neuquen Basin. Chevron holds interests in the Frade and Papa-Terra deepwater fields located in the Campos Basin. Additionally, Chevron holds interest in Block CE-M715, which is located in the Ceara Basin offshore equatorial Brazil. In Colombia, the Company operates the offshore Chuchupa and the onshore Ballena natural gas fields. In Suriname, the Company holds non-operated working interest in Blocks 42 and 45 offshore Suriname. In, Trinidad and Tobago, the Company has non-operated working interest in over three blocks in the East Coast Marine Area offshore Trinidad, which includes the Dolphin and Dolphin Deep producing natural gas fields and the Starfish development. In Venezuela, Chevron's production activities are performed by two affiliates in western Venezuela and one affiliate in the Orinoco Belt. Chevron has interest in the Petropiar affiliate that operates the Hamaca heavy oil production and upgrading project located in Venezuela's Orinoco Belt. The Company also holds interest in the Petroboscan affiliate that operates the Boscan Field in western Venezuela and has interest in the Petroindependiente affiliate that operates the LL-652 Field in Lake Maracaibo. Chevron holds interest in the Petroindependencia. The Company also operates and holds interest in Block 2, and has interest in Block 3 in the Plataforma Deltana area offshore eastern Venezuela.
In Africa, Chevron is engaged in upstream activities in Angola, Democratic Republic of the Congo, Liberia, Mauritania, Morocco, Nigeria, Republic of the Congo, Sierra Leone and South Africa. In Angola, the Company operates and holds interest in Block 0, a concession adjacent to the Cabinda coastline, and has interest in a production-sharing contract (PSC) for deepwater Block 14. The Company also has non-operated working interest in the onshore Fina Sonangol Texaco concession area. In addition, Chevron has interest in Angola LNG Limited. In addition to the exploration and production activities, Angola LNG Limited operates an onshore natural gas liquefaction plant in Soyo, Angola. The plant has the capacity to process approximately 1.1 billion cubic feet of natural gas per day. The Company also holds interest in the Congo River Canyon Crossing Pipeline project that is designed to transport over 250 million cubic feet of natural gas per day from Block 0 and Block 14 to the Angola LNG plant.
Chevron operates and holds interest in the Lianzi Unitization Zone, located in an area shared equally by Angola and Republic of the Congo. The Lianzi Project has a design capacity of approximately 46,000 barrels of crude oil per day. In Democratic Republic of the Congo, the Company has non-operated working interest in an offshore concession. In the Republic of the Congo, Chevron has non-operated working interest in the offshore Haute Mer permit areas (Nkossa, Nsoko and Moho-Bilondo). In Liberia, Chevron operates and holds interest in approximately three deepwater blocks off the coast of Liberia. In Sierra Leone, the Company operates and holds interest in a concession off the coast of Sierra Leone. In Morocco, the Company operates and holds interest in over three deepwater areas offshore Morocco. In Nigeria, Chevron holds interest in approximately nine operated concessions, in the onshore and near-offshore regions of the Niger Delta. The Company also holds acreage positions in over three operated and over six non-operated deepwater blocks. Chevron operates and holds interest in the Agbami Field, located in deepwater Oil Mining Lease (OML) 127 and OML 128. The Company operates approximately 33,000 barrel-per-day gas-to-liquids facility at Escravos. In deepwater exploration, Chevron operates and holds interest in the deepwater Nsiko discovery in OML 140. In addition, Chevron holds non-operated working interest in OML 138.
In Asia, the Company is engaged in upstream activities in Azerbaijan, Bangladesh, China, Indonesia, Kazakhstan, the Kurdistan Region of Iraq, Myanmar, the Partitioned Zone located between Saudi Arabia and Kuwait, the Philippines, Russia and Thailand. In Azerbaijan, Chevron holds non-operated working interest in the Azerbaijan International Operating Company (AIOC) and the crude oil production from the Azeri-Chirag-Gunashli (ACG) fields. Chevron also has interest in the Baku-Tbilisi-Ceyhan (BTC) Pipeline affiliate, which transports the production of ACG from Baku, Azerbaijan, through Georgia to Mediterranean deepwater port facilities at Ceyhan, Turkey. In Kazakhstan, the Company has interest in the Tengizchevroil (TCO) affiliate and a non-operated working interest in the Karachaganak Field. In Bangladesh, the Company operates and holds interest in Block 12 (Bibiyana Field) and Blocks 13 and 14 (Jalalabad and Moulavi Bazar fields). In China, Chevron has operated and non-operated working interests in various areas in China.
In China, the Company operates and holds interest in the Chuandongbei Project, located onshore in the Sichuan Basin. The Company also has non-operated working interests in the QHD 32-6 Field, in Block 11/19 in the Bohai Bay, and in Block 16/19 in the Pearl River Mouth Basin. In Indonesia, Chevron holds working interests through various PSCs in Indonesia. In Sumatra, the Company holds owned and operated interest in the Rokan PSC. Chevron also operates over four PSCs in the Kutei Basin, located offshore eastern Kalimantan. In addition, Chevron holds non-operated working interest in Block B in the South Natuna Sea. The Company also holds interest in Bangka project, which has a design capacity of over 115 million cubic feet of natural gas and over 4,000 barrels of condensate per day. It holds interest in Gendalo-Gehem project, which has a planned design capacity of approximately 1.1 billion cubic feet of natural gas and over 47,000 barrels of condensate per day.
In West Java, the Company operates the Darajat geothermal field and holds interest in over two power plants. The field supplies steam to a power plant with a total operating capacity of over 270 megawatts (MW). Chevron also operates and holds interest in the Salak geothermal field in West Java. In Myanmar, Chevron has non-operated working interest in a PSC for the production of natural gas from the Yadana and Sein fields, within Blocks M5 and M6, in the Andaman Sea. The Company also has non-operated interest in a pipeline company that transports natural gas to the Myanmar-Thailand border for delivery to power plants in Thailand. In Philippines, the Company holds non-operated working interest in the Malampaya natural gas field, offshore Palawan. Chevron holds interest in an affiliate that develops and produces steam resources in southern Luzon, which supplies steam to third-party power generation facilities with a combined operating capacity of over 692 MW. In Thailand, Chevron holds operated interests in the Pattani Basin, located in the Gulf of Thailand. The Company also has non-operated working interest in the Arthit Field located in the Malay Basin. In Vietnam, the Company has interest in a PSC that includes Blocks B and PSC for Block 52/97.
In the Kurdistan Region of Iraq, the Company operates and holds contractor interests in over three PSCs covering the Rovi, Sarta and Qara Dagh blocks. In the partitioned zone, Chevron holds a concession to operate the Kingdom of Saudi Arabia's interest in the hydrocarbon resources in the onshore area of the Partitioned Zone between Saudi Arabia and Kuwait. In Australia/Oceania, the Company is engaged in upstream activities in Australia and New Zealand. In Australia, Chevron's upstream activities are concentrated in offshore Western Australia, where the Company operates two liquefied natural gas (LNG) projects, Gorgon and Wheatstone, and has a non-operated working interest in the North West Shelf (NWS) Venture and exploration acreage in the Browse Basin and the Carnarvon Basin. In Europe, the Company is engaged in activities in Denmark and the United Kingdom. In Denmark, Chevron holds non-operated working interest in the Danish Underground Consortium (DUC), which produces crude oil and natural gas from 13 North Sea fields. In the United Kingdom, the Company operates and holds interest in Alder Project. The Company has non-operated working interest in the Clair Ridge Project, located west of the Shetland Islands. It also operates Rosebank Project in the northwest of the Shetland Islands.
In the United States, the Company markets its products under the Chevron and Texaco brands. The Company supplies directly or through retailers and marketers approximately 7,860 Chevron- and Texaco-branded motor vehicle service stations, primarily in the southern and western states. Approximately 370 of the outlets are Company-owned or -leased stations. Outside the United States, Chevron supplies directly or through retailers and marketers approximately 6,090 branded service stations, including affiliates. In British Columbia, Canada, the Company markets its products under the Chevron brand. In Latin America, the Company markets its products under the Texaco brand. In the Asia-Pacific region, southern Africa and Pakistan, the Company markets its products under the Caltex brand. In South Korea, the Company operates through its affiliate, GS Caltex, and in Australia through its affiliate, Caltex Australia Limited.
The Company also markets a line of lubricant and coolant products under the product names Havoline, Delo, Ursa, Meropa, Rando, Clarity and Taro in the United States and around the world under the brands Chevron, Texaco and Caltex. Chevron owns interest in its Chevron Phillips Chemical Company LLC (CPChem) affiliate. CPChem produces olefins, polyolefins and alpha olefins, and is a supplier of aromatics and polyethylene pipe, in addition to participating in the specialty chemical and specialty plastics markets. Chevron Oronite Company develops, manufactures and markets performance additives for lubricating oils and fuels, and conducts research and development for additive component and blended packages. GS Caltex manufactures aromatics, including benzene, toluene and xylene. These are base chemicals used to produce a range of products, including adhesives, plastics and textile fibers. GS Caltex also produces polypropylene, which is used to make food packaging, laboratory equipment and textiles.
The Company's other business include Research and Technology, and Environmental Protection. The Company's energy technology organization supports upstream and downstream businesses. The Company conducts research, develops and qualifies technology, and provides technical services and competency development. The Company covers earth sciences, reservoir and production engineering, drilling and completions, facilities engineering, manufacturing, process technology, catalysis, technical computing and health, and environment and safety. The Company's information technology organization integrates computing, telecommunications, data management, cybersecurity and network technology to provide a digital infrastructure to enable Chevron's global operations and business processes.
6001 Bollinger Canyon Rd
SAN RAMON CA 94583-2324
Company Web Links
- Chevron suspends production at Gorgon Train Two LNG project - spokesman
- BRIEF-Chevron sees average worldwide oil-equivalent production in 2017 to grow 4-9 pct
- Deals of the day-Mergers and acquisitions
- Exclusive: China state firm in preliminary deal to buy Chevron's Bangladesh gas fields - oil executives
- Deals of the day-Mergers and acquisitions