exploration & production in latin america

For the latest figures, view the 2017 Supplement to the Annual Report.

Latin America’s ample resources offer the potential to help expand regional economies and meet the world’s growing energy demand.

Chevron is helping 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 for 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 footprint

Today, we’re one of the largest producers of natural gas in Colombia. We’re also among 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, Mexico and Suriname.

powering potential

Argentina is a key country in our portfolio, with both conventional and unconventional oil and gas 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 we’re a nonoperating partner in the Papa-Terra deepwater field. 

And in Trinidad and Tobago, we’re joint venture partners in the Dolphin, Dolphin Deep and Starfish natural gas fields. 

our technology advantage

Chevron is working on innovative technologies to find, develop, produce, process, transport and deliver energy – safely, affordably, reliably and at scale. Many of those technologies are being deployed at our assets in Latin America.

In heavy oil recovery, we are developing ways to reduce the number and cost of injectors, reduce environmental impact, and help capture previously undevelopable reserves. 

At the Huyapari Field in Venezuela, Chevron and partner Petróleos de Venezuela (PDVSA) initiated the country’s first joint-venture cyclic steam stimulation enhanced oil recovery (EOR) pilot project, which is expected to increase production. We’re also working with PDVSA to use thermal EOR techniques to increase heavy oil production from our Petropiar Project in the Orinoco Oil 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 to view reservoir conditions and optimize production techniques.

And in other regions, our technological advantages include ocean-bottom node and 4-D seismic, extended-reach drilling and completion technologies, and our i-field® – or digital oil field – solutions in order to better monitor and manage production.