Chevron Provides Estimate of Total Volume of Oil from Seep Lines
Chevron Corporation (NYSE: CVX) reports that its subsidiary, Chevron
Brasil Upstream Frade Ltda., has issued an estimate of total oil volume
from ocean floor seep lines in the vicinity of its Frade Field.
Chevron believes that approximately 2,400 barrels of oil have been
emitted to date since seeps were first detected on November 9. The
company notes that this estimate is within the current range of 1,600 to
2,640 barrels provided by Brazil′s National Petroleum Agency (ANP).
Regarding the company′s emergency response initiatives, Chevron strongly
asserts that its personnel were trained and prepared to address a
potential incident of this type and responded immediately from the
moment of first notification. The company again notes that its combined
efforts greatly diminished the size of the sheen and stopped the source
of the seep flow within only four days of first detection.
The surface sheen continues to dissipate and its volume is now less than
18 barrels of oil. Chevron believes no new oil is leaking from the
reservoir.
Chevron will evaluate and respond appropriately to any and all
assessment notices from Brazilian government authorities. Chevron
respects and complies with the laws of the countries in which it
operates.
A timeline of the Frade Field incident, a drilling schematic and updated
video footage of the ocean floor seeps is available on Chevron′s
Media Updates page.
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.
Chevron Corporation
Lloyd Avram, 925-790-6930 (U.S.)
Scott
Walker, 281-221-5765 (Brazil)
