exploration & production in latin america
Latin America’s ample resources offer the potential to help expand regional economies and meet the world’ss 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. (PDVSA), on several projects. Other areas of exploration and production in Latin America are Argentina, Brazil, Mexico and Suriname.
Argentina is a key country in our portfolio, with both conventional and unconventional oil and gas production. Chevron affiliates participate in two projects – a robust drilling program in the Loma Campana concession and exploration in the region’s Narambuena Block, both operated by YPF S.A. Chevron also holds an 85 percent-owned and operated interest in the El Trapial concessions.
In Brazil, Chevron is a nonoperating partner in the Papa-Terra deepwater field. In 2018, we won six deepwater blocks in the prolific Brazil pre-salt trend in the Campos and Santos basins.
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 PDVSA initiated the country’s first joint-venture cyclic steam stimulation enhanced oil recovery project, which is expected to increase production.
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 our ocean-bottom node and 4-D seismic, extended-reach drilling and completion technologies and our i-field® – or digital oil field – solutions for better monitoring and managing production.