Atlantic Canada

Chevron Canada Limited has major interests in oil and gas exploration and production offshore Newfoundland and Labrador on Canada’s East Coast.  

Hibernia

First discovered by Chevron in 1979, the Hibernia oil field is a joint venture among the following partners: ExxonMobil Canada Properties (33.125%), Chevron Canada Resources (26.875%), Petro-Canada (20%), the Canadian Hibernia Holding Corporation (8.5%), Murphy Oil (6.5%) and StatoilHydro (5%). Average total crude oil production in 2008 was 139,000 barrels per day (35,000 net to Chevron). As of year-end 2008, Hibernia had produced 620 million of the estimated 960 million barrels of crude oil potentially recoverable over the field life. Hibernia’s gravity-based platform weighs over one million tonnes and is located 315 km east of St. John’s, Newfoundland and Labrador, in the Jeanne d’Arc Basin. Planning is under way for a proposed Hibernia South Extension project.

Hebron

In 2008, Chevron Canada and its co-venture participants signed formal agreements with the government of Newfoundland and Labrador to proceed with the Hebron project. Hebron is a heavy oil field estimated to contain 400 to 700 million barrels of recoverable resources. It is located in the Jeanne d’Arc Basin, approximately 350 km east of St. John’s. First oil is targeted for 2017. The Hebron co-venturers are ExxonMobil Canada Properties (36%), Chevron Canada Resources (26.7%), Petro-Canada (22.7%), StatoilHydro (9.7%) and Nalcor Energy (4.9%).

For more information, please visit the Hebron Project website at: http://www.hebronproject.com/

Orphan Basin

The Orphan Basin is a largely unexplored basin covering approximately 100,000 sq km and is located 250 km north of Hibernia offshore Newfoundland and Labrador. Chevron Canada operates and holds a 50% interest in two exploration licenses totalling 5.2 million acres (21,044 sq km). Chevron has acquired 3D seismic on the parcels to identify potential hydrocarbon deposits and possible locations for exploration wells. Drilling of the first exploration well was concluded in April 2007.

A decision was made in early January 2009 to defer drilling of a second exploration well in 2009. Cost estimates for a 2009 exploration well continued to come in higher than originally anticipated and more time is needed to re-evaluate all prospects in the Orphan Basin from a risk versus cost perspective.

Project co-venturers include Chevron Canada Limited (50%), ExxonMobil Canada Properties (15%), Imperial Oil (15%), and Shell Canada Limited (20%).

Labrador

In 2008, Chevron Canada was the successful bidder for a 100 percent-owned and operated exploration lease in Eastern Labrador. The lease covers 574,000 acres (2,323 sq km) and is located approximately 121 km offshore in a water depth ranging between 150 and 500 metres. Chevron is in the early stages of developing a work program for this acreage.

Terra Nova

The Terra Nova oil field is located in the Jeanne d’Arc Basin, about 35 km southeast of Hibernia. Production began in 2002. Chevron Canada has a 1% interest in the Terra Nova project. Other partners are Petro-Canada (33.99%), ExxonMobil Canada (22%), StatoilHydro (15%), Husky Energy (12.51%), Murphy Oil (12%) and Mosbacher (3.5%).