Chevron 2005 Annual Report Download - page 3

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Ultraclean Fuel for the Future 15
With our joint-venture partner, we
are applying leading-edge technol-
ogy that turns natural gas into an
ultraclean transportation fuel.
Drilling for Success 17
The Unocal merger gave us excel-
lent assets and talent.
Human Energy — In Abundance 18
Human energy is evident every-
where at Chevron — take a look at
the people who are generating it.
Operating Highlights 20
Milestones were achieved that are
building a platform for future success.
Glossary of Energy and Financial
Terms 24
Financial Review 25
Five-Year Operating Summary 87
Five-Year Financial Summary 88
Board of Directors 103
Corporate Offi cers 104
Letter to Stockholders 2
2005 was a year of unprecedented
accomplishment and challenge.
Skyscraper at Sea 7
The fi rst phase of the Benguela
Belize-Lobito Tomboco development,
offshore Angola, was completed.
Exploring for Growth 9
Tahiti is one of the largest, deepest
and most signifi cant discoveries made
to date in the U.S. Gulf of Mexico.
Technology That Drives Results 11
State-of-the-art injection technology
is expected to signifi cantly increase
production capacity from the giant
Tengiz Field in Kazakhstan.
Delivering the Promise of
Natural Gas 13
2005 was a year of milestones for
developing Chevron’s vast natural
gas resources offshore Western
Australia.
TABLE OF CONTENTS
GROWING ENERGY DEMAND IS ONE OF THE
WORLD’S GREAT CHALLENGES. Together,
we must continue to fi nd innovative ways to
provide the energy that will fuel economic
development and improve the quality of life
for people everywhere. At Chevron, we are
relentlessly focused on producing safe, reli-
able energy now and for the future. How are
we doing it? By applying the energy we have
most in abundance: human energy — our own
and that of our partners around the world.