Chevron J.P. Morgan Oil & Gas Conference: Global LNG Joe Geagea President, Gas and Midstream June 22, 2012 London 2012 Chevron Corporation
Strong Safety Culture Total Days Away From Work Rate 0.20 Do it safely or not at all. 0.15 0.10 There is always 2 2 time to do it right. 0.05 2 1 0.00 2007 2008 2009 2010 2011 1 CVX Ranking Relative to Competitors 1…
Global Upstream Portfolio Production Tilted Towards Oil 2011 Net Production by Fuel 748 MBOED 617 MBOED North America Europe, Eurasia and Gas Middle East 31% Oil 69% 2.7 MMBOED 2011 Proved Reserves by Fuel Gas Oil 43%…
Natural Gas: A Growing Segment of Chevrons Portfolio Percent Gas of Over 160 TCF of Natural Gas Resources* Total Production 10% 50% Europe, Eurasia & Middle East 40% 30% 20% 25% 16% 49% 10% Americas Africa Asia-Pacific…
Exposure to Oil Pricing Remains Consistent Through 2017 Net Production Current portfolio tilted toward Percent oil and oil-linked gas 100 80 % Gas 75 Oil-linked Growth in LNG maintains exposure to oil pricing in 2017 Gas 50…
Unconventional Oil and Gas Supports Growth Beyond 2017 Net Production Unconventional production grows to MBOED 175 MBOED by 2017 250 Duvernay Niobrara Antrim 200 Collingwood Marcellus Utica 150 Haynesville Longli Wolfcamp…
LNG Drives Future Production Growth Net Production* LNG production grows to 460 MBOED MBOED by 2017 500 400 300 200 100 Evaluate 0 Design 2012 2017 Construct Producing 2012 Chevron Corporation *Production…
Angola LNG 2012 Startup CVX equity 36.4% 1 x 5.2 MMTPA train 175 MBOEPD peak production 63 MBD liquids 75 cargoes per year Flexibility to market globally Commissioning activities underway 2012 Chevron Corporation 9
Gorgon: Achieving Milestones and Advancing Toward First LNG Project CVX-operated, 47.3% equity interest 3 x 5 MMTPA LNG trains and domestic gas plant Maximum daily production: 2.6 BCFD of natural gas and 20 MBD condensate 110…
Wheatstone: Awarding Contracts and Ramping Up Construction Activity Project CVX-operated, 72.1% facility equity interest 2 x 4.45 MMTPA LNG Trains + domestic gas plant Estimated 260 MBOED production capacity 100 cargoes per year…
Continued Exploration Success Builds Momentum for Australia LNG Expansions 13 Discoveries Added 7 TCF Plan to Drill 4 Impact 2009-2011 of Resources* Wells in 2012 Kentish Knock-1 Discoveries Brederode-1 Orthrus-2…
Indonesia Deepwater Development Two Development Projects Single integrated Plan of Development (POD) Gendalo-Gehem Two separate Floating Production Unit hubs Natural gas resource 3 TCF Bangka Subsea tieback to an existing…
Becoming A Top Tier LNG Producer 2020 Estimated Liquefaction Capacity Billion Cubic Feet Per Day 0 2 4 6 8 Qatar Shell BG ExxonMobil Indonesia Chevron Chevrons LNG Evolution Petronas 2010 2015 2020 Sonatrach Woodside Top…
All Energy Sources Required to Meet Increasing Demand Global Energy Demand Million Barrels of Oil-equivalent per Day 2012 Chevron Corporation * Un-risked Source: EIA/DOE International Energy 6P resources. Outlook 2011 15
Power Generation & Industry Drive Over 80% of Growth in Global Natural Gas Demand Global Natural Gas Demand by Sector Trillion Cubic Feet 2012 Chevron Corporation * Un-risked 6P resources. Source: Wood Mackenzie 16
Long-Term Oil-Indexed Contracts to Persist in Import Dependent Markets United Kingdom Europe 50% imports (LNG + pipe) 50% imports (mostly pipe) Open Access model Growth in 3rd party access NBP spot price (oil influenced) Growth in…
Chevrons Advantaged Position Large gas resource position especially in Asia Pacific Significant growth potential from unconventional resources Long term LNG agreements with premium buyers Portfolio strongly linked to oil price…
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