Exploration and Production
Chevron, in partnership with Colombia's national oil company, Ecopetrol, operates the giant offshore Chuchupa Field in the Caribbean Sea as well as the onshore Ballena and Riohacha natural gas fields in the province of La Guajira, northern Colombia. In 2010, Chevron's total average daily production in Colombia was 714 million cubic feet of gas (249 million net).
Chevron operates and develops the fields as part of the Guajira Association contract. Chevron receives 43 percent of the production for the remaining life of each field and a variable production volume from a fixed-fee agreement based on prior Chuchupa capital contributions.
In 2010, Chevron conducted a seismic survey of the offshore and onshore development areas. We are evaluating the results of that survey.
Marketing and Retail
Chevron operates a nationwide network of more than 350 Texaco® service stations. We have a 17 percent market share in automotive fuels, a 30 percent market share in aviation fuel and a 15 percent market share in lubricants. Chevron also has interests in 11 fuel terminals in Colombia.
Under the Texaco name, the company sells a full line of branded merchandise—including Texaco with Techron® gasoline, diesel fuel, and Havoline® and Ursa® lubricants—through service stations, sales agents and distributors in Colombia. Through a joint venture, Chevron supplies fuel to Colombia's major airports.
As Colombia's largest producer of natural gas, Chevron supplies more than 4 million households.
In 2007, Chevron and Ecopetrol signed a long-term purchase and sales agreement with Venezuela's national gas company to deliver an estimated average of 90 million cubic feet of gas per day from Colombia to Venezuela. This agreement allows for a separate deal for future deliveries of natural gas from Venezuela to Colombia.
Updated: March 2011