highlights of operations
Chevron is operating in the northeastern autonomous region within Iraq known as the Kurdistan Region of Iraq (KRI). We are exploring for energy that can help grow and sustain the local economy. The company currently has interests in the Sarta and Qara Dagh blocks.
The company is also actively investing in communities near where we operate. We have supported health, education and economic development initiatives while making substantial contributions for the care of internally displaced people and refugees.
exploration and production
Chevron is using advanced drilling technology to maximize the search for energy resources in the KRI.
Chevron operates and has an 80 percent interest in the Sarta production-sharing contract (PSC) and the Qara Dagh PSC. The two blocks cover a combined area of 279,000 net acres (1,129 sq km).
The complex geology in the KRI required state-of-the-art technology. Chevron used managed pressure drilling equipment and a new formation testing tool to successfully drill two exploration wells in the challenging environment.
In early 2016, we completed a second exploration well in the Sarta Block, and more evaluation of the block is planned. For the Qara Dagh PSC, the results from seismic acquisition and evaluation in 2015 improved our understanding of the prospects, and we are evaluating next steps.
in the community
Wherever we conduct business, we take seriously our role as neighbors in the communities near our facilities.
Since the very start of our work in the KRI in 2012, we have been committed to supporting communities in need and have engaged in several social investment projects.
To encourage local economic development, Chevron has donated 60 greenhouses to 30 farmers in 12 villages in the Sarta Block area and provided training in new vegetable cultivation techniques. In addition, Chevron arranged for beekeeping equipment and training to be given to 50 families in local villages in the Qara Dagh Block area.
Chevron also donated seven wheat seed cleaning machines and three power generators to approximately 1,800 wheat farmers in the Sarta and Qara Dagh block areas.
To support education, Chevron has built a school in the Bardarash District and donated seven computer labs in the Bardarash District and Dara Shakran subdistrict.
Chevron supported the construction of three soccer pitches to promote social interaction, build positive relationships and help young athletes hone their soccer skills. We have also built five community halls in the Bardarash district and Dara Shakran subdistrict.
Since 2013, Chevron has donated more than $2.27 million, through nongovernmental organizations Save the Children and International Rescue Committee, to support Syrian refugees and internally displaced people in the KRI.
CAUTIONARY STATEMENT RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This Website contains forward-looking statements relating to Chevron’s operations that are based on management’s current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “forecasts,” “projects,” “believes,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “could,” “should,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on schedule,” “on track,” “is slated,” “goals,” “objectives,” “strategies,” “opportunities” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward- looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this report. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
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