Chevron 2007 Annual Report Download - page 26

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24
We continue to enhance production from existing fields and
are a leader in producing heavy oil from mature fields (see
Pages 8–9). We are sharing our expertise with our partners
in the Partitioned Neutral Zone between Kuwait and Saudi
Arabia, where we are the only international oil company
producing under a concession from the Kingdom of Saudi
Arabia. In 2007, approximately 30 Saudi Arabian and Kuwaiti
employees began an extensive training program at our heavy
oil operations in California to prepare them to operate one of
the first heavy oil steamfloods in the Middle East.
Chevron also operates the world’s largest steamflood at the
Duri heavy oil field in Indonesia. The field has produced more
than 2 billion barrels of crude oil since it was discovered in 1941.
Additionally, we and our partners continue to make progress in
developing the Athabasca Oil Sands Project in Canada.
Exploration Success: Chevron’s strong exploration program
continues to feed the pipeline for future crude oil and natural
gas developments. In 2007, we announced two major dis-
coveries in Angola’s deep water, where we have a number of
developments under way. We also discovered crude oil offshore
the Republic of the Congo. Offshore the United Kingdom, west
of the Shetland Islands, we tested three appraisal wells for the
Rosebank/Lochnagar discovery, a promising frontier area for
exploration and development.
To advance our deepwater exploration capabilities, we have
commissioned the construction of two state-of-the-art drill
ships. Each will be capable of drilling to total depths of up
to 40,000 feet (12,192 meters) and in water depths of up to
12,000 feet (3,658 meters). Deliveries of the drill ships are
expected in 2008 and 2009.
During the year, we acquired new exploration acreage offshore
Western Australia, near our giant Greater Gorgon Area natural
gas holdings, and in the Gulf of Thailand.