Chevron 2008 Annual Report Download - page 17
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15
A global, capital-intensive business requires world-class performance and a commitment
to capital stewardship. Chevron has a management system in place to help identify the
most promising prospects and execute them with excellence — from developing complex
crude oil and natural gas elds, to managing one of the industry’s most successful explora-
tion efforts, to operating a highly advanced and strategically located rening system.
Frade
For years after its discovery in 1986, the Frade deepwater eld
offshore Brazil was considered too technically risky to develop. The
eld holds medium-heavy oil in shallow reservoirs requiring long
horizontal wells. Today, Chevron and its partners have overcome the
challenges and are advancing the multibillion-dollar development
toward rst oil in 2009. By 2011, Frade is expected to reach peak
production of 90,000 oil-equivalent barrels per day.
Future
Develop Energy for the