highlightsofoperations

highlights of operations

Chevron is one of the leading private oil companies in Venezuela helping to meet the world’s growing energy demand with reliable and affordable energy. Our legacy dates back to the Boscan Field discovery in the 1920s.

Delivering energy requires working with trusted partners who succeed when we succeed. Today we participate in five onshore and offshore production projects in the country. Chevron works in partnership with affiliates of Petróleos de Venezuela (PDVSA), Venezuela’s national oil company, in four joint-venture operations in western and eastern Venezuela. Three of these are heavy or extra-heavy crude oil projects.

operations in venezuela

5

onshore and offshore production projects

partnering in venezuela

4

joint-venture operations with PDVSA

focus on heavy crude

3

heavy or extra-heavy crude oil projects

technology transfer

Chevron and its partners have made significant capital investments in Venezuela, helped develop the national workforce and promoted the use of local resources.

Chevron makes important technological contributions by bringing our most effective methods to the Venezuelan oil industry. We also share knowledge about offshore engineering design, heavy oil production and upgrading, and enhanced oil recovery through thermal and water injection.

businessportfolio
businessportfolio

business portfolio

exploration and production

In 2018, net daily production averaged 42,000 barrels of crude oil and 9 million cubic feet of natural gas.

crude oil production

42K

net barrels per day in 2018

natural gas production

9

million cubic feet per day in 2018

We operate the following projects in Venezuela.

petroboscán

Chevron operations in Venezuela map, Petroboscan

  • Operated by Petroboscán, S.A., a joint venture with PDVSA
  • 39.2 percent Chevron interest
  • Boscan Field
  • State of Zulia, western Venezuela
In 2018:
  • 16K net barrels per day crude oil production
  • 1MM cubic feet per day natural gas production
  • 21 development wells drilled

petroindependiente

Chevron operations in Venezuela map, Petroindependiente

  • Operated by Petroindependiente, S.A.
  • 25.2 percent Chevron interest
  • LL-652 Field
  • Lake Maracaibo

petropiar

Chevron operations in Venezuela map, Petropiar

  • Nonoperated joint venture with PDVSA through Petropiar, S.A.
  • 30 percent Chevron interest
  • Orinoco Belt
  • This vertically integrated project processes extra-heavy crude oil from the Huyapari Field and upgrades it to a lighter, higher-value synthetic oil.
In 2018:
  • 26K net barrels per day crude oil production
  • 8MM cubic feet per day natural gas production
  • 64 development wells drilled

petroindependencia

Chevron operations in Venezuela map, Petroindependencia

  • Operated by Petroindependencia, S.A.
  • 34 percent Chevron interest
  • Carabobo 3 Project
  • This heavy oil project is in three blocks within the Carabobo area of the Orinoco Belt.

loran

Chevron operations in Venezuela map, Loran

  • Block 2 offshore Venezuela
  • 60 percent Chevron interest
  • The Loran Field in Block 2 and the Manatee Field in Trinidad and Tobago form a single cross-border field along the maritime border of Venezuela and Trinidad and Tobago.
inthecommunity

in the community

Our social investment strategy aims to strengthen local communities with programs that deliver measurable and sustainable results. Our efforts are focused on three core areas: health, education and economic development.

From 2006 to 2017, Chevron invested more than $100 million in areas where we operate in Venezuela, directly benefitting more than 182,000 people.

In 2018, while Chevron continued ongoing projects, the company expanded its social investments with additional contributions to programs focusing on health and community services. Chevron contributed $2.15 million in 2018 to support ongoing and new social projects together benefitting an estimated 31,000 Venezuelans.

Mother and child getting a medical check-up

health

Chevron promotes health care programs in the communities where we operate.

  • Chevron supports organizations to provide free cleft and lip palate surgeries. This has benefited more than 5,000 children and adults with cranial malformations often caused by malnutrition. Chevron employee volunteers have been key supporters, helping provide a range of services to patients and their families throughout the treatment process. They have helped parents fill out medical forms, served as translators, taken children to recreational activities and donated toys and clothes.
  • Chevron is targeting malnutrition with substantial support for a new two-year initiative implemented at seven schools in Anzoátegui State near Chevron/PDVSA’s Petropiar operations. Over 1,400 students, and 127 teachers and staff receive nutritional supplements, medical attention for high-risk malnutrition cases, and support for small scale agricultural projects.
  • Chevron completed the rehabilitation of two water wells in Anzoategui State to improve access to potable water to a community of ten thousand inhabitants. Chevron aims to continue to add water wells in subsequent years.
Woman and kids in an education program

education

Education is the foundation for sustainable development. Since 2005, Chevron has worked with Venezuela’s Ministry of Education to expand resources and opportunities for educators and students ranging from elementary to post graduate studies.

  • Chevron supports the “Aula 20” teacher training program, which uses internet and media technology to teach math, reading and writing. It has been deployed at schools in Anzoátegui, Miranda, Monagas, Sucre and Zulia states benefitting about 14,000 students yearly.
  • Chevron’s partnership with the Venezuelan American Friendship Association began 15 years ago. This program provides university scholarships nationwide to socio-economically disadvantaged students through the Pro Excellence Program, which includes mentoring, specialized training based on the United Nations skills and competencies, and English language skills.
Woman and Chevron worker

economic development

Chevron partners with local nongovernmental organizations (NGOs) to build capacity and self-sufficiency while promoting economic development in the communities where we have operations.

  • Chevron has been supporting the Emprered and Empremujer entrepreneurship programs since 2004. Between 2006-2016, the programs provided almost 10,000 women located in five states with training on how to start and run small businesses. In addition, the “Dressed for Dreams” program provides training in the craft of sewing to low-income women and victims of violence.
  • The “Knitting Hope” project strengthens the earning power of indigenous Warao artisans in Delta Amacuro state who create fair trade export quality baskets, hammocks, and jewelry. Since 2009, more than 240 entrepreneurs each year have received training in craft techniques and marketing.
contact

contact

Chevron Latin America
Avenida La Estancia
Centro Banaven (Cubo Negro)
Torre D, Piso 7 - Chuao
Caracas, Venezuela
Telephone: +58.212.526.5400

Submit a résumé via email to Chevron.

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 Website 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,” “positions,” “pursues,” “may,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on schedule,” “on track,” “is slated,” “goals,” “objectives,” “strategies,” “opportunities,” “poised” 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 posted on this Website. 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 start-up 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 or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government-mandated sales, divestitures, recapitalizations, industry-specific taxes, tariffs, sanctions, 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 18 through 21 of Chevron’s 2018 Annual Report on Form 10-K. Other unpredictable or unknown factors not discussed on this Website could also have material adverse effects on forward-looking statements.