Exploration and Production
Chevron holds working interests in fields ranging from 20 percent to 51.7 percent and spanning a total of 178,000 acres (721 sq km).
First production from Chevron's Frade deepwater heavy oil development was announced in June 2009. The company also has a nonoperating interest in other deepwater concessions in Brazil – Papa Terra and Maromba, in Block BC-20, and Atlanta and Oliva, in Block BS-4.
Chevron operates and holds a 51.7 percent interest in the Frade project. The field lies in water depths of approximately 3,700 feet (1,128 m), approximately 230 miles (370 km) northeast of Rio de Janeiro, in the Campos Basin. Frade is a subsea development with wells tied back to a floating production, storage and offloading vessel. The estimated $3 billion project, with continuing development drilling, is expected to achieve peak production of 90,000 barrels of crude oil and natural gas liquids per day in 2011.
Also in the Campos Basin, Chevron holds nonoperated interests in Papa-Terra and Maromba. Development plans at Papa-Terra call for an FPSO vessel and a tension-leg well platform. Heavier-oil production wells will lead to the platform. Lighter-oil production wells will tie back to the FPSO vessel. Chevron holds a 37.5 percent interest in Papa-Terra. First oil is planned for 2012.
In Maromba, a pilot production system using an FPSO vessel with a limited number of subsea wells to evaluate the different reservoirs in the production area is planned. Chevron holds a 30 percent nonoperated interest in Maromba.
In the Santos Basin, Chevron holds a 20 percent nonoperated interest in Block BS-4. As of late 2008, development options for the Atlanta and Oliva fields were under evaluation, with front-end engineering and design expected in 2012 and first oil projected for 2016.
Marketing and Retail
In March 2009, Chevron announced the sale of our fuels marketing business in Brazil, which included the network of service stations, an equity interest in associated terminal operations, and Chevron's commercial and industrial fuels business.
Chevron owns and operates a lubricants manufacturing plant in Rio de Janeiro that produces 1 million barrels of lubricating oils each year and a plant in São Paulo that produces 17,000 tons of industrial greases and 35,000 barrels of coolants per year for the Brazilian market. Havoline® and Ursa® lubricant brands are recognized as leaders in the market.
Customer satisfaction, improved performance and quality management are vitally important to Chevron. Chevron Brasil Ltda. has been awarded certification from the International Organization for Standardization (ISO) for the high-quality design, development and manufacture of oils, coolants, brake fluid, greases and lubricants – an important acknowledgment in the Brazilian market. The Brazilian lubricants plant also is ISO certified.
Chemicals
Chevron's subsidiary Oronite owns and operates a manufacturing plant in São Paulo. Oronite is a leading developer, manufacturer and marketer of performance additives for fuels and lubricating oils.
Also in São Paulo, Chevron Phillips Chemical Company LLC (CPChem) has a 50 percent interest in a polystyrene plant. Polystyrene is used to make plastic dinnerware, CD cases, insulation and foam drink cups, among other products. CPChem is equally owned with ConocoPhillips Corporation and is one of the world's leading producers of petrochemicals.
Updated: July 2009