Energy that is reliable and affordable is fundamental to human progress and economic prosperity. Energy drives virtually every aspect of the global economy. Indeed, it has been behind the great advances in living standards and societal growth throughout recorded history, especially in the past 150 years. The demand will continue to rise: By 2035, world energy consumption is expected to increase by more than 40 percent as the world's current population of 7 billion surpasses 8.5 billion.
People around the world have come to expect ready access to this energy as they aspire to a better quality of life. It is an expectation made possible by the enormous scale of the world's energy infrastructure, though largely invisible to end users. Meeting this demand in the future will require the capabilities and technology to find, develop, produce, process, transport and deliver energy from many sources, affordably and at scale. And as demonstrated in this issue of Next*, Chevron is working on innovative technologies across the energy spectrum to do just that.
In Upstream, advanced developments—such as proprietary seismic imaging and enhanced drilling and completions technologies—help us find and produce resources more effectively and with a smaller environmental footprint. These advancements enable us to be a leader in exploration success. Downstream, we are building on our legacy of pioneering technologies that can process the most challenging feedstocks, allowing us to expand our production of high-value premium base oils and other products for global markets.
As highlighted in our cover story, we are transforming our operations through digital connectivity—making strategic investments in digital infrastructure, real-time communication, collaboration workflows and other technologies that are revolutionizing our ability to operate remote fields safely and reliably. We also are investing in new technology pathways focused on greater energy efficiency, improved recovery and renewable energy.
As a global energy company, we know that new ideas can come from anywhere, from any industry, at any time. That's why we take an open-innovation approach to technology development, working in close collaboration with our operations worldwide. We systematically identify, develop, qualify, integrate and deploy technology from our proprietary research, partnerships, joint ventures and venture capital investments.
This approach allows Chevron access to the most innovative and cost-effective ideas, what we call "human energy." It ensures that we can deploy the right technology in the right place at the right time—to differentiate our performance and economically deliver the energy that fuels human progress.
Sincerely,
John W. McDonald, Chevron Corporation
Vice President and Chief Technology Officer