Strategy: Differentiate performance through technology.
How we develop, integrate and deploy technology is a key differentiator for Chevron. Our expertise, proprietary solutions and research partnerships enable us to deliver superior business performance while positioning us for the future. Our investments in technology are broad and diverse, helping us to find new crude oil and natural gas fields in challenging environments, extract more from existing resources, improve refining yields and products, and capture greater efficiencies in our operations. These investments also enhance our ability to develop breakthrough technologies to help meet future energy demand with resources that are scalable, environmentally sound and affordable.
For example, we are pioneering new applications of proven technologies to enhance recovery from existing reservoirs. Our large-scale steamflood pilot project at the Wafra Field in the onshore Partitioned Zone between Kuwait and Saudi Arabia is the world's first commercial-scale carbonate steamflood. It is anticipated that a full-field steamflood of Wafra could reach a production level of 400,000 barrels of crude oil per day and potentially recover 6 billion barrels of crude oil. Chevron is a recognized leader in heavy oil and steamflood technologies.
Research Partnerships
We continue to expand our research partnerships to focus on next-generation energy technologies. Our reservoir simulator INTERSECT™, which was developed with Schlumberger, has been released commercially and deployed within Chevron to assist with our major business decisions and help maximize field production.
During the year, we established an alliance with NASA's Jet Propulsion Laboratory to develop a range of technologies that can be applied to deepwater activities.
In California, we installed systems that use wireless technology developed by a Chevron alliance with Los Alamos National Laboratory that help optimize production by providing dynamic information on the fluid level in each well.
Chevron and Los Alamos National Laboratory, along with other partners, were recognized by R&D Magazine for one of the 100 most significant technological advances introduced into the marketplace in 2011. TAPSS—Trapped Annular Pressure Shrinking Spacer—helps manage well pressure in extreme environments such as the deep water.
Posted: April 2012