highlightsofoperations

highlights of operations

Chevron produces crude oil and natural gas in Argentina through our wholly owned subsidiary Chevron Argentina S.R.L.

Chevron Argentina is the sixth-largest producer of oil in the country, with concessions in the Neuquén Basin. Expanded waterflood operations are sustaining oil output at the El Trapial Field, and the company is exploring for unconventional oil and gas resources.

In 2014, we announced agreements to continue development, through another subsidiary, of shale oil and gas resources at the Loma Campana Field in the Vaca Muerta formation in Neuquén Province operated by YPF.

Separately, a Chevron Shared Services Center operates in Buenos Aires. It provides information technology and accounting support services for affiliates in Latin America, the United Kingdom and the United States.

Chevron Argentina supports social investment programs that promote education, health and economic development in the communities where the company operates. 

businessportfolio

business portfolio

exploration and production

During 2015, net daily production in Argentina averaged 21,000 barrels of crude oil and 36 million cubic feet of natural gas.

Chevron Argentina S.R.L. holds an 85 percent-owned and operated interest in one concession that covers 94,000 net acres (380 sq km) and has both conventional production and Vaca Muerta Shale potential.

The company also holds operated interests ranging from 18.8 percent to 100 percent in three concessions covering 73,000 net acres (294 sq km) elsewhere in the Neuquén Basin. 

In addition, in the Vaca Muerta Shale formation—a thick, laterally extensive, liquids-rich shale—another Chevron subsidiary participates in two areas covering 73,000 net acres (294 sq km), the Loma Campana concession and the Narambuena blocks.

loma campana

Development activities continued in 2015 on the Loma Campana concession in the Vaca Muerta Shale, with an average of 13 rigs per month onsite, drilling both horizontal and vertical wells. In 2015, 156 wells were drilled, most of which were vertical wells. In 2016, the drilling plan shifts to primarily horizontal wells.

narambuena

In 2014, Chevron affiliates signed agreements to join an exploration project for shale oil in the Narambuena Block in the Chihuido de la Sierra Negra concession, which is also in the Vaca Muerta Shale. Exploration work continued in 2015. The exploration plan for Narambuena includes a total of nine wells to be drilled in two phases.

pipeline in the neuquén basin

Another Chevron affiliate holds a 14 percent interest in Oleoductos del Valle S.A., a pipeline system that transports crude oil from the Neuquén Basin in western Argentina to the Buenos Aires area.

business support

A Chevron Shared Services Center operates in Buenos Aires. The center provides accounting services and information technology support for many of Chevron’s affiliates in Latin America, the United Kingdom and the United States.

inthecommunity

in the community

Chevron Argentina S.R.L. partners with local leaders, nongovernmental organizations (NGOs) and other entities to help communities in the areas where we operate. The company supports health, education, economic development and environmental programs.  

health

Together with the Ministry of Health in Neuquén Province, Chevron Argentina sponsors Rolling Smiles, a program that provides free dental care in neighborhoods in Neuquén City. In 2014, Chevron Argentina also donated a refrigerated truck to transport medical supplies to remote hospitals in the province.

In Rincón de los Sauces, we have worked with municipal authorities to build a new water storage facility that provides residents with access to drinking water. In 2015, we extended our commitment by adding a new water pipeline.

For more than 13 years, Chevron Argentina S.R.L. has supported Alas del Alma (Wings of the Soul), an NGO that works with people with disabilities in Cipoletti, Rio Negro Province. 

education

Chevron Argentina S.R.L. is committed to education. For more than 10 years, we have sponsored Rural School 173 Ruca Quimpen in Huantraico, providing building maintenance, food and fuel.

We are also one of the main supporters of the Instituto Tecnológico de Buenos Aires, where we have developed a scholarship program for petroleum engineering students.

economic development

Chevron Argentina partners with the local NGO Otras Voces (Other Voices) in support of the Women Entrepreneurs in Action program. This initiative provides disadvantaged women with training in accounting, marketing and administration skills to help them develop their own small businesses and related activities.

In the city of General Roca, Rio Negro Province, we support an initiative that offers free workshops to improve job skills and promote small businesses. The project aims to advance local economic growth and generate employment opportunities.

chevron affiliate

Chevron Argentina and our joint venture partners have supported the upgrade of health facilities in Añelo, Neuquén Province, as well as social investment programs that improve basic infrastructure, such as housing, water supply and sanitation.

Our affiliate also supports the YPF Foundation, which contributes to programs in education, environment, health care, culture, science and research, alternative energy, and community development. The programs are selected by the foundation, the Neuquén Province government and local communities. They have included infrastructure projects such as construction of solid waste, water supply and treatment facilities at schools in several provinces and expansion of a convention center.

recordofachievement

record of achievement

Chevron began selling automotive fuels in Argentina in the first half of the 20th century and started exploring for oil in the 1980s. After the deregulation of the oil and gas market in 1989, Chevron affiliates expanded exploration, production and marketing operations.

In 1999, Chevron increased its presence in Argentina with the purchase of Petrolera Argentina San Jorge S.A., a company with a history of successful exploration in the Neuquén Basin.

We are a significant partner in the nation’s economy. Oil production in Argentina is an important source of employment and generates revenue for the federal and provincial governments.

Chevron employees demonstrate a strong commitment to high-quality work and safe operations. The Argentina Oil and Gas Institute recognized Chevron with its 2011 Annual Safety Award for our outstanding safety performance.

The Superintendent of Occupational Risks has recognized Chevron Argentina for achieving work environment standards that meet and surpass those required by law.

In 2014, the city of Rincón de los Sauces, near Chevron Argentina’s El Trapial Field, recognized the company for its commitment to improving the quality of life of the city’s citizens.

contactus

contact us

Chevron Africa and Latin America Exploration and Production
1400 Smith Street
Houston, Texas 77002
disclosure;forward-lookingstatements

CAUTIONARY STATEMENT RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This Site contains forward-looking statements relating to Chevron's operations that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as "anticipates," "expects," "intends," "plans," "targets," "forecasts," "projects," "believes," "seeks," "schedules," "estimates," "may," "could," "should," "budgets," "outlook," "on schedule," "on track" and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company's control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this report. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices; changing refining, marketing and chemicals margins; the company's ability to realize anticipated cost savings and expenditure reductions; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of the company's suppliers, vendors, partners, and equity affiliates, particularly during extended periods of low prices for crude oil and natural gas; the inability or failure of the company's joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or startup of planned projects; the potential disruption or interruption of the company's operations due to war, accidents, political events, civil unrest, severe weather, cyber threats and terrorist acts, crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries, or other natural or human causes beyond its control; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from other pending or future litigation; the company's future acquisition or disposition of assets and gains and losses from asset dispositions or impairments; government-mandated sales, divestitures, recapitalizations, industry-specific taxes, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company's ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading "Risk Factors" on pages 21 through 23 of the company's 2015 Annual Report on Form 10-K. In addition, such results could be affected by general domestic and international economic and political conditions. Other unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements.

Certain terms, such as "unrisked resources," "unrisked resource base," "recoverable resources," and "oil in place," among others, may be used to describe certain aspects of the company's portfolio and oil and gas properties beyond the proved reserves. For definitions of, and further information regarding, these and other terms, see the "Glossary of Energy and Financial Terms" on pages 50 and 51 of the company's 2015 Supplement to the Annual Report. As used in this report, the term "project" may describe new upstream development activity, including phases in a multiphase development, maintenance activities, certain existing assets, new investments in downstream and chemicals capacity, investment in emerging and sustainable energy activities, and certain other activities. All of these terms are used for convenience only and are not intended as a precise description of the term "project" as it relates to any specific government law or regulation. 

All trademarks, service marks, logos and trade names, whether registered or unregistered, are proprietary to Chevron, its affiliates, or to other companies where so indicated. You may not reproduce, download or otherwise use any such trademarks, service marks, logos or trade names without the prior written consent of the appropriate owner thereof.