ed working interest in the heavy oil Hebron Field, also offshore Atlantic Canada. In the Flemish Pass Basin offshore Newfoundland, the company holds a 40 percent nonoperated working interest in two exploration blocks. In 2015, the company was awarded a 35 percent interest and operatorship in another block in the Flemish Pass Basin. The company holds a 20 percent nonoperated working interest in the Athabasca Oil Sands Project (AOSP) in Alberta. The Quest Project is designed to capture and store approximately 1 million tons of carbon dioxide produced annually by AOSP bitumen processing. The company holds approximately 228,000 net acres in the Duvernay Shale in Alberta and approximately 200,000 overlying acres in the Montney tight rock formation. The company has a 70 percent-owned and operated interest in most of the Duvernay acreage. Drilling continued during 2015 on an expanded 16-well appraisal program. The company holds a 50 percent-owned and operated interest in the proposed Kitimat LNG and Pacific Trail Pipeline projects and a 50 percent interest in 300,000 net acres in the Horn River and Liard shale gas basins in British Colombia. The Kitimat LNG Project is planned to include a two-train LNG facility and has a 10.0 million-metric-ton-per-year export license. The total production capacity for the project is expected to be 1.6 billion cubic feet of natural gas per day. The company is the operator of the upstream portion of the project in 2015. The company holds a 93.8 percent operated interest in the Aitken Creek and a 42.9 percent nonoperated interest in the Alberta Hub natural gas storage facilities, which have an aggregate total capacity of approximately 100 billion cubic feet. Greenland: The company holds a 29.2 percent-owned and operated interest in Blocks 9 and 14 located in the Kanumas Area, offshore the northeast coast of Greenland. The company acquired 2-D seismic data in 2015 and evaluation of the acreage is ongoing. Argentina: In the Vaca Muerta Shale formation, the company holds a 50 percent nonoperated interest in two concessions covering 73,000 net acres. The company also holds an 85 percent-owned and operated interest in one concession covering 94,000 net acres with both conventional production and Vaca Muerta Shale potential. In addition, the company holds operated interests in three concessions covering 73,000 net acres in the Neuquen Basin, with interests ranging from 18.8 percent to 100 percent. Net oil-equivalent production in 2015 averaged 27,000 barrels per day, composed of 21,000 barrels of crude oil and 36 million cubic feet of natural gas. During 2015, the company progressed the exploration of shale oil and gas resources in the Narambuena Block in the Chihuido de la Sierra Negra concession, also in the Vaca Muerta Shale. Brazil: The company holds interests in the Frade (51.7 percent-owned and operated) and Papa-Terra (37.5 percent-owned and nonoperated) deepwater fields located in the Campos Basin. The concession that includes the Frade Field expires in 2025 and the concession that includes the Papa-Terra Field expires in 2032. Net oil-equivalent production in 2015 averaged 18,000 barrels per day, composed of 17,000 barrels of crude oil and 5 million cubic feet of natural gas. Additionally, the company holds a 50 percent-owned and operated interest in Block CE-M715, located in the Ceara Basin offshore equatorial Brazil. Acquisition of 3-D seismic data commenced in September 2015. Colombia: The company operates the offshore Chuchupa and the onshore Ballena natural gas fields and receives 43 percent of the production for the remaining life of each field and a variable production volume based on prior Chuchupa capital contributions. Suriname: The company holds a 50 percent nonoperated working interest in deepwater Blocks 42 and 45 offshore Suriname. Farm-down opportunities are being pursued for the two blocks. Trinidad and Tobago: The company has a 50 percent nonoperated working interest in three blocks in the East Coast Marine Area offshore Trinidad, which includes the Dolphin, Dolphin Deep and Starfish natural gas fields. Venezuela: The company’s producti
(CVX*:Mexico Stock Exchange)
6001 Bollinger Canyon Road
San Ramon, CA 94583
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