expanding our portfolio in Brazil

Chevron employee working in a virtual environment

Exploration is essential to the growth of our business. In Brazil, Chevron applies technology, skills and experience to identify new investment opportunities.

The acquisition of exploration resources in Brazil began in 1998, with several deepwater exploration wells being drilled which culminated in the discovery of the Papa-Terra field.

In 2018, we acquired six new blocks: one block as operator in the Santos Basin and, as partner, three non-operated joint ventures located in the Campos Basin and two in the Santos Basin. In 2019, five blocks were acquired, two as operator (please refer to the map below to see the location of our exploration projects).

Brazil assets

Map showing the location of exploration projects

Our team of geologists and geophysicists is responsible for evaluating seismic information and data on the exploratory prospects in our portfolio. We work together with Chevron's research and technical excellence centers in search of solutions that contribute to the increase of our company's reserves.

Guided by The Chevron Way, we are continuing our quest to find and develop new sources of energy to fuel human and economic progress and prosperity in Brazil and around the globe.

For the latest figures, view the 2020 Supplement to the Annual Report