Exploration and Production
Chevron, in partnership with Colombia's national oil company, Ecopetrol, operates the offshore Chuchupa natural gas field in the Caribbean Sea as well as the onshore Ballena and Riohacha natural gas fields in the province of La Guajira, in northern Colombia. Net daily production in 2012 averaged 216 million cubic feet of natural gas.
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 based on prior Chuchupa capital contributions.
In 2013, we plan to install more compression facilities at existing fields and to continue assessing growth opportunities in Colombia.
Marketing and Retail
Through our subsidiary Sociedad Portuaria de la Zona Atlantica S.A., Chevron operates a nationwide network of more than 380 Texaco® service stations. We have a 15 percent market share in automotive fuels, a 25 percent market share in aviation fuel and a 12 percent market share in lubricants. Chevron also has interests in 10 fuel terminals in Colombia.
Under the Texaco name, the company sells a full line of branded products—including Texaco with Techron® gasoline and diesel fuel—through stations, sales agents and distributors in Colombia. Since 2012, our Havoline® and Ursa® lubricants have been sold under the Chevron® brand. Chevron is also a major supplier of Texaco-branded fuel to Colombia's major airports, including San Andres and Bogotá airports. We are the only operator and fuel distributor in the island territories of San Andres and Providencia.
Chevron provides enough natural gas for more than 4 million Colombian households, making us the country's largest producer.
Chevron and Ecopetrol, Colombia's national oil company, have a long-term purchase and sales agreement with Venezuela's national gas company, with Petróleos de Venezuela, S.A. (PDVSA) to deliver an estimated average of 150 million cubic feet of natural gas per day from Colombia to Venezuela. Since its signing in 2007, this trade agreement has contributed to the regional and national economies. The agreement also allows for a separate deal for future deliveries of natural gas from Venezuela to Colombia. In 2011, Chevron, in partnership with Ecopetrol, signed an extension of the contract with PDVSA to continue exporting natural gas from Colombia to Venezuela.
Updated: April 2013
Cautionary Statement