Chevron 2003 Annual Report Download - page 18

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16
FUELING INNOVATION
THE IDEAS OF A TALENTED AND SKILLED WORK FORCE
FUEL INNOVATION AND HELP POWER CHEVRONTEXACO’S
PERFORMANCE AND GROWTH. THIS CREATIVE ENERGY IS
CHANNELED TO INCREASE EFFICIENCIES, SOLVE BUSINESS
CHALLENGES, LOWER COSTS AND DELIVER GREATER VALUE
TO OUR STOCKHOLDERS.
Our approach to managing technology is delivering results in two ways: through
the deployment of technology to enhance the performance of our core hydrocarbon
businesses and through the development of technologies to expand future business
capabilities.
INTEGRATED APPROACH Because major new developments often call for both
upstream and downstream expertise, we merged our formerly separate technology
groups from these sectors in 2003. This created an organization unique in the
industry – one that gives us an integrated approach to managing technology
resources across business segments.
SUPPORTING OUR BUSINESSES Our technology group is helping to carry out the
objectives of our main businesses. Upstream, our proprietary imaging technology
enables us to explore for and develop new crude oil and natural gas reservoirs with
greater precision and at a lower cost than ever before. We are working to develop a
next-generation reservoir simulator that will significantly increase speed in simula-
tion performance and allow us to better model large and complex reservoirs. We also
are investing in our proprietary heavy oil upgrading technology. This technology yields
high-value liquids without producing coke or other low-value byproducts.
The company’s proprietary
HALIAS™ technology, moni-
tored in the control room
shown below, enables hydrogen
to be produced from natural gas
for use in fuel cells. The com-
pany is involved in a full range
of research to develop energy
from hydrocarbons as well as to
produce alternate fuels as future
markets develop.
At right, proprietary technology
increases reactor effi ciency and
catalyst life in refi neries, thereby
driving down costs and improv-
ing utilization rates.