Exploration and Production
Chevron, through our subsidiary Chevron North Sea Limited, produces crude oil and natural gas from the U.K. North Sea. Net daily production in 2014 averaged 32,000 barrels of liquids and 88 million cubic feet of natural gas. The majority of production comes from three fields:
- The Captain Field is operated by Chevron. We have an 85 percent interest in the field. In 2014, net daily production averaged 18,000 barrels of liquids and 3 million cubic feet of natural gas.
- Chevron is joint operator of the Britannia Field, with a 32.4 percent interest. In 2014, Britannia's net daily production averaged 2,000 barrels of liquids and 51 million cubic feet of natural gas.
- The Alba Field is operated by Chevron. We have a 23.4 percent interest in the field. In 2014, net daily production averaged 4,000 barrels of liquids.
Chevron continues to progress projects designed to sustain production and increase recovery at the Alba, Britannia and Captain fields.
Development drilling is expected to continue at Alba beyond 2022 and at Captain through 2028. In the fourth quarter of 2014, the Captain Enhanced Oil Recovery Project moved into front-end engineering and design, and detailed analysis began on the concept.
At Britannia, a low-pressure compression module was installed in September 2014 to increase production and field recovery.
The Alder high-pressure, high-temperature gas condensate discovery is about 17 miles (27 km) west of the Britannia Field. The field is being developed as a single subsea well connection to the existing Britannia Platform. Chevron has a 73.7 percent interest in and is operator of the project. The project has a design capacity of 14,000 barrels of condensate and 110 million cubic feet of natural gas per day. Engineering, procurement and construction continued in 2014, with first production expected in 2016.
The Enochdhu oil field lies 100 miles (160 km) northeast of Aberdeen, Scotland, in the central North Sea, in water depths of approximately 460 feet (140 m). The field is being developed as a single subsea well tied back via pipeline to the nearby Callanish subsea manifold and onward to the Britannia Field facilities, with first production expected in 2015. Chevron holds a 50 percent nonoperated working interest in the field.
The Rosebank Project is 80 miles (129 km) northwest of the Shetland Islands in 3,700 feet (1,115 m) of water. Chevron operates and holds a 40 percent interest in the project. In 2014, progress was made in assessing opportunities to optimize development of the field.
About 47 miles (75 km) west of the Shetland Islands, the Clair Ridge project is further developing the Clair Field. Chevron has a 19.4 percent nonoperated interest in the project, which is designed to have a capacity of 120,000 barrels of crude oil and 100 million cubic feet of natural gas per day. The quarters and utilities modules are expected to leave the fabrication yard in the second quarter of 2015. The hookup and commissioning of these modules is planned to start in the third quarter as fabrication of the drilling and production modules continues in South Korea.
Chevron continues to search for new resources on the U.K. continental shelf. In 2014, Chevron acquired 3-D seismic data of an area west of the Shetland Islands. Also in 2014, in the central North Sea, an exploration well previously drilled to delineate the southern extension of the Jade Field was successfully tied back to the platform and production began.
Marketing and Retail
London is the regional headquarters for Chevron's lubricants operation in Europe. Our downstream business in the United Kingdom is conducted through our subsidiary Chevron Products UK Limited. Chevron lubricants are sold under the Texaco® brand, along with Havoline® motor oils, Ursa® commercial motor oils and Techron® fuel system cleaners. We also sell marine lubricants and fuels. We sell our products directly and through a network of distributors.
In October 2014, Chevron Shipping opened the Marine Learning and Development Center in Glasgow, Scotland. The training center can provide instruction for up to 2,500 mariners per year, offering courses that cover topics from navigation to cargo handling, as well as technical areas such as advanced hydraulics.
Supply and Trading
Chevron's London office is home to one of the company's four global trading floors, along with Houston, Texas; San Ramon, California; and Singapore. The Supply and Trading organization manages daily commodity transactions of 5 million barrels of liquids and 6 billion cubic feet of gas.
Chevron also holds interests in the Shetland Island Regional Gas Export System pipeline, the Graben Area Export Line pipeline, the Shearwater Elgin Area Line Pipeline and the Sullom Voe Terminal.
Updated: May 2015