$500 million steam flood project expected to add 17,000 bpd from Duri Field, Sumatra.

JAKARTA, Indonesia, Oct 25, 2012 – PT Chevron Pacific Indonesia today announced the company has broken ground on the $500 million North Duri Development (NDD) Area 13 project in Sumatra, Indonesia.

At peak production the NDD Area 13 steam flood project is expected to add 17,000 barrels per day to production from the Duri field. NDD Area 13 will consist of 539 new wells, including 358 producing wells, 145 steam injection wells and 36 temperature observation wells.

"The Duri Field is a remarkable success story for both Chevron and Indonesia. With the continued application of advanced technology and investment, we have been able to extend the life of this field and increase the amount of oil recovered," said Jeff Shellebarger, managing director, Chevron IndoAsia Business Unit.

"The expansion of our highly successful steamflood project at Duri builds on our long history in Indonesia, where we are working together with the government to efficiently develop Indonesia's crude oil, natural gas and geothermal resources," said Hamid Batubara, president director, PT Chevron Pacific Indonesia.

NDD Area 13 follows the successful NDD Area 12 expansion that was completed in 2009 and which added 40,000 bopd to production from the Duri field. The Duri field is home to one of the world's largest steamflood projects, having supported the production of 2 billion barrels of oil since its introduction.

Chevron’s partnership with Indonesia goes back 88 years and today our 6,400 Indonesian employees are engaged in the exploration, development and production of oil, gas and geothermal on behalf of the nation. Chevron is the leading energy company in Indonesia, producing more than 40 per cent of the nation’s crude oil from Sumatra, delivering natural gas from offshore East Kalimantan and operating half of the geothermal energy capacity through our projects in West Java.

Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. 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 petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.

Contact:
Dony Indrawan, Indonesia
+62 8111904832

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