Chevron Asia News

Chevron Corporation said today that Michael K. Wirth, executive vice president of Midstream and Development, has been named vice chairman, effective February 1, 2017. “As a senior officer of Chevron, Mike has made significant contributions to the company’s success,” said John S. Watson, Chevron’s chairman and chief executive officer. In assuming his new role, Wirth will join the company’s Board of Directors and add Policy, Government & Public Affairs to his existing portfolio of responsibilities. Currently, Wirth oversees Midstream and Development, accountable for supply and trading, gas commercialization and the company’s midstream operating units engaged in transportation and power as well as corporate strategy and business development.

Chevron Corporation today named Jeanette L. Ourada as their new corporate vice president and comptroller effective April 1. Ourada succeeds Matthew J. Foehr, who will retire after 33 years with the company. Ourada, 49, will oversee corporate-wide accounting, financial reporting and analysis, and internal controls. She will also lead Finance Shared Services, the organization she has led since July 2013. Since joining Chevron as part of the Unocal acquisition in 2005, Ourada has held a series of leadership roles within the finance organization. Before assuming her current role as the general manager of Finance Shared Services, Ourada served as assistant treasurer, operating company support and intercompany financing.

Chevron Corporation today announced that its Bangladesh subsidiary has commenced natural gas production from the Bibiyana Expansion Project in the northeastern part of the country. The project included an expansion of the existing gas plant to process increased natural gas volumes from the Bibiyana Field, additional development wells and an enhanced gas liquids recovery unit. The project is expected to boost Chevron-operated natural gas production capacity in Bangladesh by more than 300 million cubic feet per day to 1.4 billion cubic feet per day. In addition, the project is expected to increase the company-operated natural gas liquids production capacity by 4,000 barrels per day to 9,000 barrels per day. Chevron’s Bangladesh subsidiary has a 99 percent working interest in Bibiyana.

Chevron Corporation's China subsidiary signs production sharing contracts for exploration blocks in the Pearl River Estuary, South China Sea. Chevron's agreement is with China National Offshore Oil Corporation (CNOOC). Under the PSC agreements, Chevron China Energy Company will hold a 100 percent interest in blocks 15/10 and 15/28 in the Pearl River Mouth Basin. During the exploration phase Chevron China Energy Company will be the operator of the two shallow water blocks, which in total cover an area of approximately 2,233 square miles (5,782 square km). “Exploration of these blocks builds on our strategy to grow our business across the Asia Pacific region, where we are developing LNG, deepwater, shale and sour gas resources,” said George Kirkland, vice chairman, Chevron Corporation.

Natural gas deposits discovered in two locations by Chevron Australia's deepwater drilling exploration program in the Carnarvon Basin. The Pinhoe-1 exploration discovery well encountered approximately 197 feet (60 meters) of net gas pay in the Barrow and Mungaroo Sands. Pinhoe-1 is located in the WA-383-P permit area, located approximately 124 miles (200 kilometers) north of Exmouth off the Western Australia coast. The well was drilled in 3,048 feet (929 meters) of water to a total depth of 13,396 feet (4,083 meters). The Arnhem-1 exploration discovery well confirmed approximately 149 feet (45.5 meters) of net gas pay in the upper Mungaroo Sands. Arnhem-1 is in the WA-364-P permit area, located approximately 180 miles (290 kilometres) north of Exmouth off the Western Australia coast.

Chevron Corp. announced further drilling success in the Carnarvon Basin offshore Western Australia, Australia's premier hydrocarbon basin. The Acme-1 exploration discovery well is located in the WA-205-P permit area offshore Western Australia approximately 93 miles (150 km) from Onslow. Drilled in 2,880 feet (878 m) of water to a depth of 15,469 feet (4,715 m), the well encountered approximately 896 feet (273 m) of net gas pay. George Kirkland, vice chairman, Chevron, said, "In terms of net gas pay, Acme-1 is one of our most significant natural gas discoveries in Australia. Jim Blackwell, president, Chevron Asia Pacific Exploration and Production, said, "We are realizing the opportunities we have as a leading lease holder in the Carnarvon Basin.