A christening ceremony is held for the West Vencedor tender rig that will
be used for Chevron projects offshore Angola.
Exploration is the foundation for future growth, and Chevron has one of the most
successful exploration programs among its peers. Since 2002, we have added more
than 9 billion barrels of net oil-equivalent resources, and our unit finding
costs are the lowest in our peer group. In 2009, we announced Buckskin, a major
new discovery in the deepwater U.S. Gulf of Mexico, where we are one of the largest
leaseholders. We also announced a discovery offshore Angola, in an area where we
currently are appraising earlier discoveries. Additionally, we announced five natural
gas discoveries in the Carnarvon Basin, offshore Western Australia. These discoveries
underpin the future growth of our Gorgon and Wheatstone liquefied natural gas and
domestic natural gas projects. In 2009, we made a discovery offshore the Republic
of the Congo, in a region where Chevron and its partners are currently producing.
Posted: April 2010