Drilling of Relief Well Commences Offshore Nigeria

Chevron Nigeria Limited (CNL) has begun the process of drilling a relief
well to seal the Funiwa 1A natural gas well. The relief well is being
drilled to extinguish a fire that began January 16 at the original well,
located approximately six miles (10 kilometers) off the coast of
Nigeria. No oil was spilled or has flowed from this natural gas well.

CNL drilling plans will enable the cementing and abandonment of the
Funiwa 1A well. The relief well is being drilled by the Transocean
Baltic rig with approvals from Nigerian authorities.

Additional updates on the incident are available at http://www.chevron.com/ksendeavor/.

Chevron Corporation 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

Nigeria:

Lloyd Avram, +1-925-413-5985

or

U.S.:

Kurt
Glaubitz, +1-925-790-6928