China Fact Sheet | March 2009
China Fact Sheet
Highlights of Operations
Chevron has expanded operations in China into a wide range of businesses – from exploration and production to the marketing
of fuels and lubricants. In addition, we contribute to the development of human resources and technology in our joint venture
Chevron has a production-sharing contract with China National Petroleum Corporation for the joint development of the
Chuandongbei natural gas area in central China. Chevron works to develop offshore energy resources with the Chinese National
Offshore Oil Corp. (CNOOC) as a partner in the CNOOC/Agip/Chevron/Texaco (CACT) Operators Group.
Our Caltex brand has become a well-established marketer of gasoline and lubricant products.
Our joint venture Chevron Phillips Chemical Company LLC (CPChem) holds an interest in a joint venture that makes and sells
high-density polyethylene pipe. CPChem also operates a polystyrene plant in China.
We demonstrate our commitment to the community with our support of social and educational programs.
Exploration and Production
Chevron has interests in one operated and three nonoperated projects in China.
In August 2008, Chevron became the operator in the Chuandongbei natural gas area in the onshore Sichuan Basin, holding a 49
percent interest. Subsurface reservoir and front-end engineering work was completed in 2008. At an estimated cost of $4.7
billion, plans call for two sour gas processing plants with a capacity of 740 million cubic feet per day. We started seismic
programs in 2008 to evaluate the prospects in Chuandongbei in an area that spans 487,000 acres (1,969 sq km).
Chevron has a 32.7 percent nonoperated interest in offshore Blocks 16/08 and 16/19 in the Pearl River Delta Mouth Basin of the
South China Sea. Joint development of the HZ25-3 and HZ25-1 crude oil fields in Block 16/19 commenced in first quarter 2007.
The project includes the installation of a single platform, the drilling of 10 wells, and t