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Chevron Annual Report Supplement

Chevron Annual Report Supplement

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Published by: Laurentiu Ciobotarica on Jan 09, 2012
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11/26/2012

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Exploration In February 2010, Chevron acquired an exploration

license for the Grabowiec shale gas concession in southeast

Poland, which complements the three other shale gas concessions

(Zwierzyniec, Krasnik and Frampol) held by the company. All the

licenses are 100 percent-owned and operated and comprise a total

of 1.1 million acres (4,433 sq km). The acquisition of 2-D seismic

data across the four licenses commenced in October 2010. The

data will be used to plan a multiwell drilling program expected

to start in late 2011.

Other Australia During 2010, the company announced a natural

gas discovery at the 50 percent-owned and operated Brederode

prospect in Block WA-364-P. At the end of 2010, proved reserves

had not been recognized for this discovery.

Europe

In Europe, the company is engaged in exploration and production

activities in Denmark, the Netherlands, Norway, Poland, Romania

and the United Kingdom. Net daily oil-equivalent production of

159,000 barrels during 2010 in these countries represented

about 6 percent of the companywide total.

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