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Chevron ChinaNewsThe Chuandongbei Gas Project Completes First Stage Development

Chevron Announces Completion of First Stage Development of Chuandongbei Project in Southwest China

June 7, 2016

CHENGDU, June 7, 2016 ¨CChevron Corporation (NYSE: CVX) announced today that its fully-owned subsidiary Unocal East China Sea, Ltd. has commenced natural gas production from the third train at the Chuandongbei Project in southwest China.

The Chuandongbei Project is one of the largest onshore gas projects developed by an international oil company and a national oil company in China.

The first train achieved its first gas earlier this year on January 25 and the second train achieved first gas on April 7. Production of first gas from the third train marks the successful start-up of first stage development of the project. Production is planned to ramp up over coming months. The three trains have a combined design outlet capacity of 258 million cubic feet of natural gas per day. The Chuandongbei Project is estimated to contain potentially recoverable natural gas resources of 3 trillion cubic feet.

¡°Bringing train three online at the Chuandongbei Project is an important milestone,¡± said Brad Middleton, managing director, Asia South Business Unit. ¡°It also demonstrates strong cooperation between Chevron, China National Petroleum Corporation and the Chinese government at all levels. The project is now supplying clean and affordable energy to the rapidly growing economy in southwest China and will be an important supplier for the future to local communities,

The Chuandongbei Project covers over 800 square kilometers in Sichuan Province and the Chongqing Municipality. Unocal East China Sea, Ltd. holds a 49 percent participating interest as the operator and China National Petroleum Corporation holds a 51 participating percent interest.

Chevron Corporation is one of the world¡¯s leading integrated energy companies. The company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power and produces geothermal energy; and develops and deploys technologies that enhance business value in every aspect of the company¡¯s operations. Chevron is based in San Ramon, Calif. More information about Chevron is available at  www.chevron.com

Nanba gas processing plant

Nanba gas processing plant

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