exploration & production in latin america
Latin America’s ample resources offer the potential to help expand regional economies and meet the world’s growing energy demand.
Chevron is helping to develop these resources through our exploration and production operations in six countries. Our strong partnerships in the region are reinforced by our expertise in heavy oil production, enhanced oil recovery, deepwater operations, the exploration and production of natural gas and shale oil and gas, and major capital project execution. Our roots in Latin America date to the 1920s, when we began exploration in Colombia and Venezuela, later discovering the giant Boscan Field west of Venezuela’s Lake Maracaibo in 1946.
our current footprintToday, we’re the largest producer of natural gas in Colombia. We’re also one of the largest international oil companies in Venezuela, where we partner with the national oil company, Petróleos de Venezuela, S.A., on several projects. Other areas of exploration and production in the region include Argentina, Brazil, Suriname, and Trinidad and Tobago.
planning for growthArgentina is a key country in our future growth strategy, with both conventional oil and shale production. Chevron affiliates participate in two projects operated by YPF S.A.—a robust drilling program in the Loma Campana concession and exploration in the region’s Narambuena Block.
In Brazil, through our collaboration with Petrobras, the national oil company, we operate the Frade deepwater field and are a nonoperator in the Papa-Terra deepwater field. Producing facilities at Papa-Terra include a floating production, storage and offloading vessel and a tension leg wellhead platform.
And in Trinidad and Tobago, we’re joint venture partners in the Dolphin, Dolphin Deep and Starfish natural gas fields. Starfish, discovered in 1998, began production in late 2014.
our technology advantageChevron’s application of specialized technologies provides us with an advantage in the development of our Latin American assets. Relying on our extensive experience using thermal and other enhanced oil recovery techniques, we’re testing horizontal steam injection to increase heavy oil production from our Petropiar Project in Venezuela’s Orinoco Belt.
To develop unconventional resources in Argentina’s Vaca Muerta Shale, we’re gaining greater knowledge of the subsurface areas by using reservoir characterization models that integrate reservoirs, rock mechanics, rock fabric and geological models.
And in other regions, our technological advantages include ocean-bottom node and 4-D seismic, extended-reach drilling and completion technologies, and i-field® solutions to monitor and manage production.