Recently at the SIS Global Forum 2019, Schlumberger, Chevron and Microsoft announced the industry's first three-party collaboration to accelerate creation of innovative petrotechnical and digital technologies.
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Abrado Wellbore Services, the specialist global, expandable section milling plug and abandonment service technology company, has secured a multi-million dollar contract from Chevron's Environmental Management Company to support the plug and abandonment (P&A) of more than 30 wells offshore California.
Following the recent news that Chevron Corp (Chevron) will acquire Anadarko Petroleum Corp (Anadarko) for US$33 billion, Jonathan Markham, Upstream Oil & Gas Analyst at GlobalData, a leading data and analytics company, offered his view on the deal:
Chevron Corporation has entered into a definitive agreement with Anadarko Petroleum Corporation to acquire all of the outstanding shares of Anadarko in a stock and cash transaction valued at $33 billion, or $65 per share. Based on Chevron's closing price on April 11, 2019 and under the terms of the agreement, Anadarko shareholders will receive 0.3869 shares of Chevron and $16.25 in cash for each Anadarko share. The total enterprise value of the transaction is $50 billion.
The Natural Gas Innovation Fund (NGIF) has made three major announcements: seven Canadian natural gas producers have joined the fund to advance cleantech innovation and improve environmental performance and greenhouse gas (GHG) emission reduction in Canada's natural gas energy system; a $3 million funding call is opening for cleantech solutions for the development and production of natural gas; and a Federal/Provincial Government and Industry collaboration on GHG emission reduction in natural gas energy across Canada is being launched.
Chevron Corporation has announced a 2019 organic capital and exploratory spending program of $20 billion.
The first full scale prototype of a subsea variable speed drive has been successfully tested in a sheltered harbor in Vaasa, Finland, taking the vision of an all-electric subsea processing facility one step closer to reality. A variable speed drive is needed to boost the productivity of oil and gas processes and improve energy efficiency, while providing the highest reliability.
Chevron Canada Limited (Chevron) is moving into development on a portion of its leaseholdings in the Kaybob Duvernay area of west-central Alberta. The decision follows a successful three-year appraisal program by Chevron.
Pembina Pipeline Corporation announced that it has executed further agreements whereby the Company will construct and operate the first tranche of infrastructure development under its previously announced 20-year infrastructure development and service agreement with Chevron Canada Limited. The Agreement includes over 230,000 acres of land dedication by Chevron in the liquids-rich Kaybob region of the Duvernay.Under the Service Agreements, Pembina has been requested to develop and construct:
- raw product separation and water removal infrastructure;
- a condensate stabilization facility with approximately 30,000 barrels per day ("bpd") of raw inlet condensate handling capacity;
- a 100 million cubic feet per day gas processing facility with approximately 5,000 bpd of propane-plus liquids capacity ("Duvernay II" a replica of Pembina's Duvernay I facility); and
- a 10-inch condensate pipeline lateral that will connect to the Company's Peace Pipeline system.
Chevron Products Company, maker of the Delo brand of technologically advanced heavy duty engine oils, lubricants and coolants, has unveiled a new category of heavy duty motor oil designed to address the growth of severe duty applications in on- and off-highway markets. Delo 400 SD SAE 15W-30 is an API CJ-4 heavy duty diesel engine oil formulated using a new Chevron patent pending technology to provide key benefits for engines with “severe duty” cycles in on- and off-highway applications.