Exploration and Production
In Argentina, we produce oil and natural gas through our wholly owned subsidiary Chevron Argentina S.R.L. We are currently focusing our efforts on two basins: the Austral Basin in the south and the Neuquén Basin in central Argentina.
Chevron has working interests in 17 production concessions and one exploration block. Our working interests in these projects range from 18.8 to 100 percent.
In the Neuquén Basin, we continued development of the El Trapial Field in 2008 with a series of projects designed to reduce declines in production. The El Trapial Expansion Project, expected to be completed by 2012, includes as many as 120 wells.
During 2008, total daily production in Argentina averaged 51,000 barrels of crude oil and 54 million cubic feet of natural gas. The company's net oil-equivalent production for 2008 was 44,000 barrels per day.
Pipelines
The company holds a 14 percent interest in Oleoductos del Valle S.A., a pipeline system that transports crude oil from the Neuquén Basin in western Argentina to the Buenos Aires area.
Marketing and Retail
Chevron and Texaco brands satisfy the needs of our customers in Argentina's industrial, agricultural, lubricant and automotive sectors. Texaco markets a full line of branded merchandise, including Havoline®, Ursa®, Delo® and Supreme® motor oils, through a network of more than 300 distributors and agents across the country. Chevron also owns and operates a lubricant oil blending plant in Buenos Aires.
Shared Services
Chevron operates its Shared Services Center in Buenos Aires. The center provides accounting services for many of our operations in Latin America, the United Kingdom and the United States.
Updated: May 2009