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Chevron Awards £150 million U.K. Drilling Contract

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© Business Wire 2013
2013-12-19 11:02:04 -

Chevron North Sea Limited announced today that it has awarded a new £150 million contract to Dolphin Drilling Limited, a subsidiary of Fred.

Olsen Energy ASA, for a 20 month multi-well drilling and completion program across several of Chevron’s operations in the U.K. sector of the North Sea.

The contract is to provide drilling and completion operations using the semi-submersible rig, the Blackford Dolphin, and includes a rig refurbishment to upgrade the unit for North Sea activity work.

The drilling program is expected to commence in 2015 for an initial period of 572 days. Chevron has an option to extend the drilling program for a further one to two years.

Notes to editors

Chevron’s presence in the UKCS spans 50 years, with the company

continuing to contribute significant sums to the UK economy in terms of base business expenditures, taxation, jobs and technology development, as well as ongoing investments in new operated and non-operated projects. Through this and its international and global operations, which utilize UK design, engineering and manufacturing in its worldwide projects, Chevron’s contribution to the UK economy is of the order of £10 billion in just the last five years.

Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company’s success is driven by the ingenuity and commitment of its employees and their application of the most innovative technologies in the world. Chevron is involved in virtually every facet of the energy industry. The company explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; 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 : .. .

Cautionary Statement Relevant to Forward-Looking Information for the Purpose of “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995.

Some of the items discussed in this press release are forward-looking statements about Chevron's activities. Words such as "anticipates," "expects," "intends," "plans," "targets," “forecasts,” "projects," "believes," "seeks," “schedules,” "estimates," "budgets" “outlook” and similar expressions are intended to identify such forward-looking statements. The statements are based upon management's current expectations, estimates and projections; are not guarantees of future performance; and are subject to certain risks, uncertainties and other factors, some of which are beyond the company's control and are difficult to predict. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are changes in prices of, demand for and supply of crude oil and natural gas; actions of competitors; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s net production or manufacturing facilities or delivery/transportation networks due to war, accidents, political events, civil unrest, or severe weather; government-mandated sales, divestitures, recapitalizations, industry-specific taxes and changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; and general economic and political conditions. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. 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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Chevron North Sea LimitedTracey Miller, Aberdeen+44 1224

334291 :

Hossam Abdel-Kader
Phone: +43 1 9582319

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