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12 Chevron Corporation 2010 Supplement to the Annual Report
Upstream Highlights
United States
• Accomplished major milestones on Gulf of Mexico projects:
— Achieved first production at the deepwater Perdido Regional Development Project.
— Reached final investment decisions for the Big Foot, Jack/St. Malo and Tahiti 2 deepwater projects.
— Added 42 offshore leases – 15 in the deep water and 27 on the shelf.
• Reached agreement to acquire Atlas Energy, Inc.
• Produced the company’s 5 billionth barrel of net oil-equivalent production from the Permian Basin.
International
Exploration:
• Angola – Made a pre-salt exploration discovery in Block 0 located near the planned Greater Vanza/Longui Area development.
• Australia – Announced several natural gas discoveries during 2010 and early 2011 offshore Western Australia that are expected to
contribute to future growth at company-operated liquefied natural gas (LNG) projects.
• Canada – Acquired shale gas acreage in Western Canada and secured a new exploration lease in the Beaufort Sea.
• China – Acquired interest in three deepwater exploration blocks in the South China Sea.
• Liberia – Acquired interest in three deepwater concessions.
• Poland – Acquired an additional shale gas concession area in southeast Poland.
• Romania – Awarded three shale gas exploration blocks.
• Russia – Signed Heads of Agreement (HOA) for deepwater exploration of the Shatsky Ridge in the Russian Black Sea.
• Turkey – Acquired a deepwater exploration lease in the Turkish Black Sea.
Project Execution:
• Brazil – Reached final investment decision for the deepwater Papa-Terra project.
• Canada – Achieved first production from the Athabasca Oil Sands Project (AOSP) Expansion.
• Canada – Received government approval for front-end engineering and design (FEED) at Hebron project.
• China – Continued construction of the natural gas purification plant at Chuandongbei.
• Indonesia – Received government approval of FEED for the Gendalo-Gehem natural gas project, offshore East Kalimantan.
• Kazakhstan – Continued to increase production at the Tengizchevroil (TCO) Sour Gas Injection/Second Generation Plant
Project in Kazakhstan.
• Kazakhstan/Russia – Reached final investment decision for the Caspian Pipeline Consortium Expansion Project.
• Thailand – Completed installation of a central processing platform jacket and living quarters module for the Platong Gas II project.
• Vietnam – Awarded a contract for FEED for the Block B Gas Project offshore development and signed a Business Cooperation Contract
for the Block B Gas Pipeline project.
• Venezuela – Signed an agreement to work toward commercializing a heavy-oil project in three blocks within the Carabobo Area of
eastern Venezuela’s Orinoco Belt.
Global Natural Gas Projects
• Angola – Continued construction on the Angola LNG project and installed the roof on the first of four LNG tanks.
• Angola – Secured right-of-way for Congo River Crossing Pipeline.
• Australia – Awarded approximately $25 billion of contracts for materials and services for the Gorgon Project.
• Australia – Executed binding and nonbinding agreements with Asian customers for the delivery of LNG from the Gorgon and
Wheatstone projects.
• Nigeria – Delivered first gas from the Escravos Gas Project Phase 3A.