China

China

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Exploration and Production

Chevron has interests in three operated and three nonoperated production-sharing contracts in China. In 2014, net average daily production was approximately 16,000 barrels of crude oil.

Major Development at Chuandongbei

Chevron operates the 487,000-acre (1,969-sq-km) Chuandongbei natural gas area in the onshore Sichuan Basin. We have a 49 percent interest in project. The full development includes two sour gas processing plants connected by a gas gathering system to five natural gas fields. In 2014, the company continued construction of the first natural gas processing plant and development of the Luojiazhai and Gunziping natural gas fields. The first plant’s initial three trains have a design outlet capacity of 258 million cubic feet per day. The first train reached mechanical completion in late 2014, and commissioning work began. Startup is expected in 2015. The project has a total design capacity of 558 million cubic feet of natural gas per day.

Working in the South China Sea

Chevron owns and operates shallow-water Blocks 15/10 and 15/28 in the South China Sea, which cover approximately 1.4 million acres (5,782 sq km). In 2014, two 3-D seismic surveys in these blocks were processed, and we plan to drill an exploratory well in Block 15/10 in 2015.

Chevron also has a 32.7 percent nonoperated working interest in offshore Block 16/19 in the Pearl River Mouth Basin of the South China Sea.

Strong Partnerships in Bohai Bay

In Bohai Bay, the company holds a 16.2 percent nonoperated working interest in Block 11/19 and a 24.5 percent working interest in the QHD 32-6 oil field. The latter was the first development operated by China National Offshore Oil Corporation that involved foreign participation.

Marketing and Retail

There are about 70 Caltex® service stations in China, including in the Hong Kong and Macau Special Administrative Regions. We have expanded our network of retail outlets, mainly in Guangdong Province. These stations, operated by Chevron Hong Kong Limited and Caltex South China Investment Ltd., are equipped with retail convenience stores.

Our Caltex lubricants business has sales, marketing, manufacturing and distribution operations throughout the country, including offices in Beijing, Shanghai, Guangzhou, Chengdu, Tianjin and Hong Kong. We also sell and distribute our products in central China through a joint venture in Shanghai.

Caltex Havoline® and Delo® engine oil and coolants are among the best-selling lubricants and specialty products in their class and have been widely used by consumer, commercial and industrial customers as well as original equipment manufacturers.

Chevron Global Aviation is one of the jet fuel suppliers at Hong Kong International Airport. We also sell jet fuel to airlines that use Macau International Airport.

Chemicals

Chevron Phillips Chemical Company LLC (CPChem) is 50 percent owned by Chevron.

CPChem has a 40 percent interest in Shanghai Golden Phillips Petrochemical Company Ltd., a high-density polyethylene (HDPE) plant in Jinshanwei, near Shanghai. HDPE is used in a wide range of applications, including pipe, gasoline containers and tanks, and soap and detergent bottles.

In addition, CPChem sells styrene monomer, alpha olefins, specialty chemicals and K-Resin® SBC. Styrene monomer is a basic building block of the plastics industry and is used in a variety of products, including tires and carpeting. K-Resin® SBC has been used for more than 40 years in items ranging from packaging and toys to medical components and displays. K-Resin® is a registered trademark of CPChem.

Our subsidiary Chevron Oronite (Beijing) International Trading Co., Ltd., maintains an office in Beijing to coordinate the sale of lubricants and fuel additives to national and international oil companies as well as to local lubricants blenders. The company manages products for marine, automotive, industrial and specialty uses.

Oronite’s Singapore additive plant—the largest on the continent—positions us well to meet the growth in product demand expected in China. Oronite is increasing its analytical testing capabilities in China as well as its sales and support staff.

Updated: May 2015

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