Market Reports, Corporate Data, Mergers and Acquisitions
Chevron's businesses work in concert to provide the energy that drives human progress. The world has produced about 1 trillion barrels of crude oil to date. Over the next century or so, approximately 2 trillion barrels more are expected to be produced from conventional proved reserves and undiscovered conventional oil. Additional supplies will be produced by Chevron and others from unconventional oil resources, such as extra-heavy oil in Venezuela, oil sands in Alberta and shale oil in the United States.
What Chevron Is Doing
For more than 130 years, Chevron has developed some of the world's most complex crude oil fields. We have a strong position in nearly all of the world's key basins, and our extensive project portfolio provides the foundation for future growth. We are the largest private producer of oil in Kazakhstan, the top oil producer in Thailand, the largest oil producer in Indonesia, and a major leaseholder in the U.S. Gulf of Mexico.
In 2012, Chevron produced 2.61 million net oil-equivalent barrels per day from operations around the world.
Developing Energy Sources Around the Globe
We have numerous major capital projects under way to bring significant new resources to global markets. Our technological capabilities play a pivotal role in making these projects successful and in producing more oil from mature fields.
In Africa, the company is exploring for oil in Liberia, Sierra Leone and Morocco and producing and exploring for oil in Angola, Chad, Democratic Republic of the Congo, Nigeria and Republic of the Congo.
Chevron is exploring for or producing oil throughout Asia, including Azerbaijan, Cambodia, China, Indonesia, Kazakhstan, the Partitioned Zone between Kuwait and Saudi Arabia, the Kurdistan Region of Iraq, and Thailand.
Throughout South America, Chevron is exploring for and producing oil in countries such as Suriname, Argentina, Brazil and Venezuela.
Chevron's U.S. portfolio encompasses a diversified group of producing assets in California, the Gulf of Mexico, Colorado, Michigan, New Mexico, Pennsylvania, Ohio, Oklahoma, Texas, West Virginia and Wyoming. Chevron is one of the largest hydrocarbon producers in the United States. Net oil-equivalent production in the United States during 2012 represented approximately one-fourth of the companywide total.
Chevron has interests in offshore producing fields in the United Kingdom, Denmark, the Netherlands and Norway. The company's operations in the North Sea have a track record of technological innovation, including horizontal drilling at the Captain Field, one of the first North Sea fields to use this technology.