Barclays Capital CEO Energy/Power Conference George Kirkland Vice Chairman and Executive Vice President New York City 7 September 2011
Chevrons Safety Culture Total Days Away From Work Rate 2004 1H 2011 0.20 Do it safely or not at all. 0.15 There is always 0.10 time to do it right. 0.05 0.00 2004 2005 2006 2007 2008 2009 2010 1H 11 2011 Chevron…
1H 2011 Net Production 1H11 Net Production By Region 762 MBOED 634 MBOED North America Europe, Eurasia and Middle East 2.73 MMBOED 2010 Proved Reserves By Region 670 MBOED 662 MBOED Africa & Latin America Asia Pacific…
Upstream Continues to Execute the Right Strategies Grow profitably in core areas and build new legacy positions through: Operational excellence Maximizing value of base business Selection and execution of major capital projects…
A Strong Project Inventory Drives Future Growth Project Phase Project Spend Number of Projects Spend estimates for next 10 years as a percentage of total spend 125 Deepwater Producing 100 Conventional 75 Construct LNG 50…
Near Term Growth Startups Between 2011 and 2014 37 Project Startups 13 Project Startups 250MM net Chevron Share 1B net Chevron Share AOSP Exp 1 Downstream Chuandongbei Stages 1/2 Tahiti 2 Big Foot Vietnam Gas Agbami 2…
Advancing the Inventory FIDs Between 2011 and 2014 21 Project FIDs 1B net Chevron Share Rosebank Clair Ridge Hebron TCO Pressure Boost TCO Future Growth Tubular Bells Vietnam Gas Knotty Head GSEP Bonga SW/Aparo PZ Area 1…
Major Capital Projects Deliver Future Growth Net Production 500 MBOED in mboed Construction 3,300 3,500 Evaluate 3,000 2,763 Design Progressing 2,500 Construction Design/Evaluate 2,000…
15+ Million Acres In Portfolio Additions Canada Thousand Acres Beaufort Poland (Chevron Net) Canada Romania Marcellus/ China DW Utica Bulgaria Black Sea Liberia Beaufort GOM Shelf Australia Ultra-Deep China DW GOM Shelf DW…
Future Growth Eastern Europe Shale Gas Poland 100% interest in four blocks 1.1 million acres Complete seismic program 2011 Drilling to start 2011 Romania 100% interest in four blocks 2.1 million acres Bulgaria 100% interest in…
Gulf of Mexico Key Activities Bears Hump TEXAS LOUISIANA Blind Tubular Faith Bells Genesis Lower Tahiti Knotty Head Te r t i a r y Oceanographer Miocene Caesar/Tonga Mad Dog Big Foot Coronado Moccasin Exploration…
Moccasin No. 1 Moccasin Today Water Depth: 6,760' Total Depth: 31,545' Salt 400' net oil pay in Wilcox sands Potential synergy with Buckskin Lower Tertiary Wilcox U.S. Gulf of Mexico New Orleans Houston Moccasin…
Gulf of Mexico Creativity and Technology Open New Plays Exploration Plays 1996-Present Carbonate Trend 2003-Present DW Norphlet 1999-2003 Deep Non-Amplitude Basins - Turtles 1998-Present 2006-Present Miocene Wilcox Inner…
Well-Positioned for Today and the Future Superior financial results Disciplined base business Focused investments Robust project queue Continued exploration success Sustained long-term growth 2011 Chevron Corporation 19