The company said that it has approximately 40 major capital projects with a net investment of $1 billion or more each. Of those, the Blind Faith project in the Gulf of Mexico, the Sour Gas Injection second generation plant in Kazakhstan and the Agbami project in Nigeria are planned to increase production capacity in 2008.
In 2009, Tombua Landana in Angola, Frade in Brazil and Tahiti in the Gulf of Mexico are expected to come online and further grow production capacity.
Chevron said that refinery reliability is a top priority for its downstream business. The company highlighted successes at the refineries in Richmond, California, and Pembroke, Wales, as evidence of the good progress being made across the system to increase utilization performance and production through operational excellence.
Dave O’Reilly, Chevron’s chairman and CEO, said: We are focused on execution as a top priority for 2008 and 2009. This entails excelling at operational performance, executing our capital projects well and effectively managing costs.
