highlightsofoperations

highlights of operations

Through our subsidiaries Chevron Brasil Upstream Frade Ltda. and Chevron Brasil Lubrificantes Ltda., Chevron’s work in Brazil continues to advance.

Today, the company has interests in two deepwater exploration projects in Brazil’s Campos Basin—the operated Frade project and the nonoperated Papa-Terra project. Since 2009, Chevron has invested significant time and resources developing the Frade Field. In 2015, we continued development of our Papa-Terra project, which is expected to be one of our largest investments in Brazil. We also have an interest in the deepwater Block CE-M715 in the Ceara Basin, offshore equatorial Brazil.

Chevron owns lubricant and grease plants in Brazil as well as an Oronite® additive facility that produces a range of fuel and lubricant additives.

Throughout Chevron’s long history in the country, we have worked closely with our partners to contribute to the community. The company invests in programs that generate economic opportunities for women and youth in Brazil.
businessportfolio

business portfolio

exploration and production

Chevron holds working interests in the deepwater Frade and Papa-Terra fields in the Campos Basin and in Block CE-M715 in the Ceara Basin, northeast of Brazil. In 2015, net daily production averaged 17,000 barrels of crude oil and 5 million cubic feet of natural gas.

Production from frade
Chevron operates and holds a 51.7 percent interest in the Frade project. The field lies in a water depth of about 3,700 feet (1,128 m), approximately 230 miles (370 km) northeast of Rio de Janeiro. Frade is a subsea development with wells tied back to a floating production, storage and offloading (FPSO) vessel. Net daily production in 2015 averaged 11,000 barrels of crude oil and 4 million cubic feet of natural gas from the existing 10 producer wells.

Development in papa-terra 
Chevron holds a 37.5 percent nonoperated interest in Papa-Terra in the Campos Basin.

The Papa-Terra Field lies in approximately 3,900 feet (1,189 m) of water. The project, operated by national oil company Petrobras, includes an FPSO vessel and a tension leg well platform (TLWP) and has a designed total daily capacity of 140,000 barrels of crude oil and 35 million cubic feet of natural gas. First production at Papa-Terra was announced in 2013. First production from the TLWP was announced in the first quarter of 2015. Net daily production in 2015 averaged 6,000 barrels of crude and 1 million cubic feet of natural gas. 

Exploration in the ceara basin
Chevron is the operator and has a 50 percent interest in Block CE-M715, in the Ceara Basin, offshore equatorial Brazil. The deepwater block covers 40,000 net acres (163 sq km). We began acquiring 3-D seismic data for the Ceara license in the third quarter of 2015.

marketing and retail

Chevron considers Brazil a key growth market for lubricants. The company owns and operates a lubricants manufacturing plant in Rio de Janeiro that produces 1 million barrels of lubricating oils per year. Another plant, in São Paulo, produces 15,000 tons of industrial greases and 35,000 barrels of coolants per year for the Brazilian market.

Our Havoline® and Ursa® lubricants are recognized as brand leaders in the market. Chevron sells its lubricants in Brazil under the Texaco® brand through a network of authorized distributors and directly to commercial and industrial customers.

Customer satisfaction, improved performance and quality management are important to Chevron. Chevron Brasil Lubrificantes Ltda. has been awarded certification from the International Organization for Standardization (ISO) for the high-quality design, development and manufacture of oils, coolants, brake fluid, greases and lubricants. The Brazilian lubricants plant also is ISO certified.

chemicals

Chevron’s subsidiary Oronite owns and operates a manufacturing plant in Maua, near São Paulo, and maintains a sales office in Rio de Janeiro. Oronite is a leading developer, manufacturer and marketer of performance additives for fuels and lubricating oils.

inthecommunity

in the community

Chevron’s social investment strategy is aimed at strengthening local communities through programs that deliver measurable and sustainable results and that are focused on two core areas: economic development and education. Since 2010, Chevron Brazil has invested $6.6 million in social programs that have benefited 34,000 people in the states of Rio de Janeiro and Espírito Santo in southeastern Brazil. 

empowering small business

Chevron partners with local nongovernmental organizations to help entrepreneurs and small business owners increase both their capabilities and their income.

Promoting solutions for environmental issues
Desafio Empreender (Entrepreneurship Challenge) is an initiative that raises awareness of social and environmental issues and promotes workable solutions in the communities of Rio de Janeiro. Nearly 360 youths attend classes that focus on entrepreneurship and environmental topics. In 2015, 12 student initiatives were selected for funding and implementation. 

Networks that increase income
In 2014, Chevron launched its support of Rede Asta (Asta Network). The program helps women artisans in low-income areas form production networks and set up sales channels. With guidance from designers, participants create unique handmade furniture, jewelry, kitchen products and more, crafted from recycled materials. Chevron volunteers conduct workshops with Rede Asta to improve participants’ business management skills. In 2015, 974 women benefited from this program. 

Empowering women
Chevron promotes the empowerment of women by generating sustainable economic opportunities that benefit low-income families and foster gender equality. We support Inclusão Comunitária (Community Inclusion), an initiative that helps increase income through employment and entrepreneurship by training women in specific skills that are tailored to meet the requirements of local employers. In partnership with Instituto Aliança (Alliance Institute), Chevron has helped 412 women improve their small businesses. The program offers initiatives to boost food production as well as to improve businesses that produce clothing, gifts, raincoats and aprons for fishermen. Nearly 140 women benefit from the program every year.

education for growth

Education opens doors of opportunity that improve the quality of life. 

Developing skills
Com.dominio Digital (With Digital Domain) and the Enter Jovem (Enter Young) help Brazilian youth transition into the labor market. Every year, about 200 people, aged 14 through 29, receive professional training to develop personal, social and information technology skills. More than 74 percent of Com.dominio Digital graduates find jobs. The Enter Jovem program has a 58 percent employment rate among its participants. 

Sowing talent for the energy industry
Qualifica Chevron (Qualifies Chevron) is the result of a partnership between Chevron and the Federação das Indústrias do Estado do Rio de Janeiro (Industry Federation of Rio de Janeiro State). The program aims to provide participants with the training they need to become occupational safety professionals and welding technicians in the oil and gas industry.

recordofachievement

record of achievement

Chevron’s presence in Brazil dates back to 1915, when the company sold products under the Texaco brand. Today, Chevron’s business in the country includes deepwater exploration for and production of oil and natural gas, through Chevron Brasil Upstream Frade, and the manufacture and distribution of lubricants and additives, through Chevron Brasil Lubrificantes and Chevron Oronite, respectively. 

Chevron began investing in oil and natural gas exploration and production in 1997 after the Brazilian government decided to open the sector to private companies. Chevron now has two deepwater projects in Brazil.

In the Campos Basin, offshore Rio de Janeiro, Chevron is operator of the Frade Field, which produced first oil in 2009. Also, southeast of Brazil, Chevron has a nonoperated interest in the Papa-Terra project, which produced first oil in 2013.

contactus

contact us

Chevron Brasil Petróleo Ltda.

Rua Visconde de Inhaúma, 83 / 5º. andar
Rio de Janeiro – Brazil
Telephone: +55.21.2510.5925

Chevron Brasil Lubrificantes Ltda.

Rua Visconde de Inhaúma, 83 / 3º. andar
Rio de Janeiro – Brazil
Telephone: 0800.704.2230 (Local)
+55.19.3751.3909 (International)

Chevron Oronite Brasil Ltda.

Rua Visconde de Inhaúma, 83 – 1st Floor
Rio de Janeiro – Brazil
+55.21.2224.0030 

disclosure;forward-lookingstatements

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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. 

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