press release

Chevron to Open Energy Technology Centers in Aberdeen and Perth

New centers will support global business activities, help meet growth in demand for technical services

SAN RAMON, Calif., Aug. 30, 2006 -- Chevron Corporation (NYSE: CVX) today announced that it is opening energy technology centers in Aberdeen, Scotland, and Perth, Australia. The two centers will provide research, development and technical services for the company's worldwide operations.

Chevron Energy Technology Company (ETC) will operate the centers through assigned local legal entities. The centers are expected to open in early 2007. Approximately 100 technology professionals will be employed at each site. The Aberdeen and Perth facilities will complement existing major technology centers operated by ETC in California and Texas. Those centers provide research, development and technical support to Chevron's upstream, downstream, global gas and emerging energy businesses around the world.

"We are excited about technology's role in adding new oil and gas supplies and new energy sources to meet the world's growing energy demand," said Mark Puckett, president, ETC. "With their robust energy industries, quality and size of local and regional talent pools, and long-standing presence of Chevron operations, Aberdeen and Perth are excellent locations for our new technology centers.

"By locating technology centers strategically alongside Chevron's operations, we plan to deploy technology solutions faster, gain access to new technology development opportunities, and increase our access to technical talent globally," added Puckett.

"These global technology centers clearly demonstrate Chevron's commitment of bringing our proven technical capabilities to these core operating areas," said John Watson, president of Chevron International Exploration and Production Company.

For Chevron, the new technology centers also provide an opportunity to leverage the company's experience and research through alliances with leading universities and other research institutions. "ETC participates in several partnerships and alliances internationally and in the United States, where we are achieving a much larger impact from our technology investments and are accelerating our results via broad access to external expertise and resources," said Puckett.

In addition to the experienced Chevron staff that will work in these facilities, the majority of employees are expected to be hired from within each region. Active recruitment campaigns are planned for the Aberdeen and Perth technology centers to recruit both experienced personnel and university graduates, including geologists, geophysicists, and petroleum, process and facilities engineers, with an emphasis on candidates who have master's and doctorate degrees.

About Chevron

Chevron Corporation is one of the world's leading energy companies. With more than 53,000 employees, Chevron subsidiaries conduct business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and refining, marketing and distributing fuels and other energy products. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.

Updated: August 2006