Global View of the Oil Industry
Global View of the Oil Industry Chevron Africa & Latin America Exploration and Production Company Benigna Leiss
A World-Class Global Energy Company y Business presence in 180 countries y Appx. 67,000 employees y Appx. 25,000 retail outlets y 18 refineries
Chevron Headquarters
Exploration & Production Refining Chemicals © 2009 Chevron Corporation 3/19/09 073128
y E&P activities in more than 30 countries y ~12 billion BOE net proved oil and gas reserves y 2.53 million BOE daily net production capacity in 2008
3/19/09 073128
© 2009 Chevron Corporation
Azerbaijan
Qatar
Angola
Kazakhstan
Libya
Brazil
Algeria
Iraq
Canada
Kuwait
Abu Dhabi
Venezuela
Nigeria
Norway
Mexico
Iran
Russia
China
Saudi Arabia
Oil Consumption 2005-2008 United States
Source: Created with data from EIA
3
© 2009 Chevron Corporation
3/19/09 073128
Azerbaijan
Qatar
Angola
Kazakhstan
Libya
Brazil
Algeria
Iraq
Canada
Kuwait
Abu Dhabi
Venezuela
Nigeria
Norway
Mexico
China
Iran
United States
Russia
Oil Production Capacity 2005-2008 Saudi Arabia
Source: Created with data from EIA
4
Mexican Oil Industry Overview
Began crude production (small scale)
Nationalizatio n
British and US Entrepreneurs start operations in Mexico
Giant field Cantarell discovered
Standard Oil and Royal Dutch Shell enter Mexico
Source: Created with data from SENER
© 2009 Chevron Corporation 3/19/09 073128
Cantarell peaks production Energy Reform approved
Distribution of 2008 World “Proved” Reserves (Countries with Over 1B Bbl Oil Reserves)
13 Countries Hold 90% of the World’s Proved Oil Reserves
© 2009 Chevron Corporation 3/19/09 073128
Data from the Oil and Gas Journal 2008
Major Oil and Gas Discoveries 1998-2009
© 2009 Chevron Corporation 3/19/09 073128
Discoveries, 2005-2009
© 2009 Chevron Corporation 3/19/09 073128
Data from WoodMac Exploration Service
8
Deepwater is the New Frontier
US Mx
Deepwater [deeper than 400m] Source: Oil & Gas Journal (US GoM DW Discoveries and Status)
© 2009 Chevron Corporation 3/19/09 073128
9
Deepwater Projects don’t come Overnight ~3 years
Block Award
First Oil ~13 years!!
~5 years
~4 years
Take a long time Capital intensive State of the art technology Highly qualified human resources © 2009 Chevron Corporation 3/19/09 073128
10
Chevron Deepwater Portfolio Tombua-Landana
Frade (1,128m) in Campos Basin – 115 km offshore Brazil Achieved First Oil on June 22, 2009
(1,463m) in Block 14 - 80 km offshore Angola Achieved First Oil on September 9, 2009 One of the world’s tallest manmade structures
51.7% operated interest in US$3Bn project
Maximum total production in 2011 of 100 MBPD
Achieve in 2011 peak production (90 MBOEPD) Blind Faith (6,500) ft
Tahiti Field Jack & St. Malo Agbami
Usan Bonga SW/Aparo
TombuaLandana
Moho-Bilondo
Frade Papa-Terra
© 2009 Chevron Corporation 3/19/09 073128
Closing Remarks Global Long term trends Energy consumption will continue to grow Hydrocarbons will remain the main source of energy Developing nations will drive energy demand
Renewables will contribute to secure meeting energy requirements
Technologically challenging and expensive oil is becoming the norm Deepwater - Major source of new key discoveries Gulf of Mexico has great deepwater potential
Heavy Oil and Oil sands La Faja del Orinoco; Canadian oil sands © 2009 Chevron Corporation 3/19/09 073128
A View of the Global Oil Industry
Q&A
© 2009 Chevron Corporation 3/19/09 073128
13
A World-Class Global Energy Company y Business presence in 180 countries y Appx. 67,000 employees y Appx. 25,000 retail outlets y 18 refineries
Chevron Headquarters
Exploration & Production Refining Chemicals © 2009 Chevron Corporation 3/19/09 073128
y E&P activities in more than 30 countries y ~12 billion BOE net proved oil and gas reserves y 2.53 million BOE daily net production capacity in 2008
3/19/09 073128
© 2009 Chevron Corporation
Azerbaijan
Qatar
Angola
Kazakhstan
Libya
Brazil
Algeria
Iraq
Canada
Kuwait
Abu Dhabi
Venezuela
Nigeria
Norway
Mexico
Iran
Russia
China
Saudi Arabia
Oil Consumption 2005-2008 United States
Source: Created with data from EIA
3
© 2009 Chevron Corporation
3/19/09 073128
Azerbaijan
Qatar
Angola
Kazakhstan
Libya
Brazil
Algeria
Iraq
Canada
Kuwait
Abu Dhabi
Venezuela
Nigeria
Norway
Mexico
China
Iran
United States
Russia
Oil Production Capacity 2005-2008 Saudi Arabia
Source: Created with data from EIA
4
Mexican Oil Industry Overview
Began crude production (small scale)
Nationalizatio n
British and US Entrepreneurs start operations in Mexico
Giant field Cantarell discovered
Standard Oil and Royal Dutch Shell enter Mexico
Source: Created with data from SENER
© 2009 Chevron Corporation 3/19/09 073128
Cantarell peaks production Energy Reform approved
Distribution of 2008 World “Proved” Reserves (Countries with Over 1B Bbl Oil Reserves)
13 Countries Hold 90% of the World’s Proved Oil Reserves
© 2009 Chevron Corporation 3/19/09 073128
Data from the Oil and Gas Journal 2008
Major Oil and Gas Discoveries 1998-2009
© 2009 Chevron Corporation 3/19/09 073128
Discoveries, 2005-2009
© 2009 Chevron Corporation 3/19/09 073128
Data from WoodMac Exploration Service
8
Deepwater is the New Frontier
US Mx
Deepwater [deeper than 400m] Source: Oil & Gas Journal (US GoM DW Discoveries and Status)
© 2009 Chevron Corporation 3/19/09 073128
9
Deepwater Projects don’t come Overnight ~3 years
Block Award
First Oil ~13 years!!
~5 years
~4 years
Take a long time Capital intensive State of the art technology Highly qualified human resources © 2009 Chevron Corporation 3/19/09 073128
10
Chevron Deepwater Portfolio Tombua-Landana
Frade (1,128m) in Campos Basin – 115 km offshore Brazil Achieved First Oil on June 22, 2009
(1,463m) in Block 14 - 80 km offshore Angola Achieved First Oil on September 9, 2009 One of the world’s tallest manmade structures
51.7% operated interest in US$3Bn project
Maximum total production in 2011 of 100 MBPD
Achieve in 2011 peak production (90 MBOEPD) Blind Faith (6,500) ft
Tahiti Field Jack & St. Malo Agbami
Usan Bonga SW/Aparo
TombuaLandana
Moho-Bilondo
Frade Papa-Terra
© 2009 Chevron Corporation 3/19/09 073128
Closing Remarks Global Long term trends Energy consumption will continue to grow Hydrocarbons will remain the main source of energy Developing nations will drive energy demand
Renewables will contribute to secure meeting energy requirements
Technologically challenging and expensive oil is becoming the norm Deepwater - Major source of new key discoveries Gulf of Mexico has great deepwater potential
Heavy Oil and Oil sands La Faja del Orinoco; Canadian oil sands © 2009 Chevron Corporation 3/19/09 073128
A View of the Global Oil Industry
Q&A
© 2009 Chevron Corporation 3/19/09 073128
13
