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    2012 Chevron Chevron Asia Pacific Overview

    Chevron Asia Pacific Overview

    Melody Meyer

    President, Chevron Asia Pacific Exploration and Production

    25 September, 2012

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    Cautionary Statement

    CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPSAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1

    This presentation of Chevron Corporation contains forward-looking statements relating to Chevrons operations that are based onmanagements cuand projections about the petroleum, chemicals and other energy-related industries. Words such as anticipates,expects,intends, plans, tarbelieves, seeks, schedules, estimates, budgets, outlook and similar expressions are intended to identify such forward-looking statementsguarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond the companys contrTherefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reareliance on these forward-looking statements, which speak only as of the date of this presentation. Unless legally required, Chevron undertakes noany forward-looking statements, whether as a result of new information, future events or otherwise.

    Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crudchanging refining, marketing and chemical margins; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftialternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of equity affiliates; companys joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net produccrude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential discompanys net production or manufacturing facilities or delivery/transportation networks due to war, accidents, political events, civil unrest, severe we

    quotas that might be imposed by the Organization of Petroleum Exporting Countries; the potential liability for remedial actions or assessmeenvironmental regulations and litigation; significant investment or product changes under existing or future environmental statutes, regulations and liresulting from other pending or future litigation; the companys future acquisition or disposition of assets and gains and losses from asset government-mandated sales, divestitures, recapitalizations, industry-specific taxes, changes in fiscal terms or restrictions on scope of company movements compared with the U.S. dollar; the effects of changed accounting rules under generally accepted accounting principles promulgated by factors set forth under the headingRiskFactorson pages 29 through 31 of thecompanys 2011 Annual Report on Form 10-K. In addition, such stageneral domestic and international economic and political conditions. Other unpredictable or unknown factors not discussed in this presentation couldeffects on forward-looking statements.

    Certain terms, such as unriskedresources,unrisked resourcebase,recoverableresources,andoil inplace, among others, may be used in certain aspects of thecompanys portfolio and oil and gas properties beyond the proved reserves. For definitions of, and further information regardingtheGlossaryof Energy and FinancialTerms on pages 58 and 59 of thecompanys 2011 Supplement to the Annual Report and available at Chevron

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    2012 Chevron Chevron Asia Pacific Overview

    Strong Safety Culture

    Source: Data publicly available from annual company sus

    XOM rates are Lost Time Incident Rates. RDS rates are L

    0.00

    0.05

    0.10

    0.15

    0.20

    2007 2008 2009

    Total Days Away From W

    Rate

    CVX Ranking Relative to Competit

    1 being the lowest rate

    1

    Competitor Range: BP, COP, RDS

    22 2

    Do it safelyor not at all.

    There is alwaystime to do it right.

    *2011 excludes COP due to availability of

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    Partnering With Contractors On Safety

    Contractors bring

    Extensive experience and expertise fromAustralian and international projects

    Varied maturity on health and safety

    Chevron brings

    Demanding goals for personal safetyperformance

    Supporting programs to assist contractorsin meeting expectations

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    Global Upstream Portfolio

    Production Tilted Towards Oil

    Oil57%

    Gas43%

    2011 Proved Reservesby Fuel

    Oil69%

    Gas31%

    2011 Net

    Production by Fuel

    2.7 MMBOED

    11.2 BBOE Areas of Operation

    North America Europ

    Middle

    Asia-PAfrica & Latin America

    748MBOED

    617M

    653 M656 MBOED

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    Natural Gas: A Growing Segment of

    Chevrons Portfolio

    * Un-risked

    160TCF of Natural Gas ResourPercent Gas ofTotal Production

    0%

    10%

    20%

    30%

    40%

    50%

    2012 2017

    15TEurope, Eurasia

    A

    26 TCFAfrica

    41 TCFAmericas

    LNG

    Conventional

    Unconventional

    GTL

    * Resource defined as un-risked proved, probabl

    recoverable resources contingent on commercia

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    LNG Drives Future Production Growth

    *Production includes LNG

    and feedstock associated

    Evaluate

    Design

    Construct

    Producing

    Net Production*

    MBOED

    0

    100

    200

    300

    400

    500

    2012 2017

    LNG production grows to

    460by 2017

    Asia Pacific

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    Exposure to Oil Pricing Remains Consistent

    Through 2017

    Net ProductionPercent

    0

    25

    50

    75

    100

    2012 201

    Realizations continue to benefit

    from strong oil weighting

    Current portfolio tilted towardoil and oil-linked gas

    ~80%

    Growth in LNG maintains

    exposure to oil pricing in 2017

    ~80%

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    Well-Positioned to Meet Asia Pacific Deman

    Chevron Natural Gas

    160 TCF

    0%

    50%

    100%

    150%

    2010 2015 2020 2025 2030 2035

    Asia

    Worldwide

    Source: DOE EIA International Energy Outlook, Sept 2011

    Natural Gas Demand

    2010-2035Percentage increase vs. 2009 levels

    4

    16%

    25%

    10%

    Europe, Eurasia,

    Middle East

    Americas

    Africa

    * Resource defined as un-risked prove

    plus potential recoverable resources c

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    Becoming A Top Tier LNG Producer

    0 2 4 6

    QatarShell

    BGExxonMobil

    Petronas

    Indonesia

    SonatrachWoodside

    TotalIran

    NNPCBP

    ConocoPhillips

    INPEX

    Source: Wood Mackenz

    Chevron Chevrons LNG

    2010 2015

    Top

    20

    Top

    15

    2020 Estimated Liquefaction Capacity

    Billion Cubic Feet Per Day

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    Chevron Asia Pacific Exploration & Producti

    Largest IOC in the region* with

    2011 Proved reserves: 3.2 BBOE

    2011 Total resource** base: 17 BBOE

    Largest producerin Thailand, Indonesia

    and Bangladesh

    Largest resource position in AustraliaPioneered geothermal development in

    Indonesia and the Philippines

    * Based on WoodMac Corporate Analysis Tool Commercial / Technical Reserves

    ** Resource is defined as un-risked proved, probable and possible reserves plus

    potential recoverable resources contingent on commerciality.

    Net Production

    MBOED

    0

    500

    1,000

    1,500

    2,000

    2,500

    3,000

    3,500

    2012

    Asia Pacific

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    Chevron in China

    Partnering with all three NOCsProducing

    Bohai CNOOC

    CACT CNOOC

    Under Construction

    Chuandongbei Sour Gas Project CNPC

    Exploration

    South China Sea Offshore CNOOC

    Shale Gas Sinopec

    2011 net production 22 MBOED

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    Chevron in Southeast Asia

    Thailand

    Largest producer in Thailand

    Supply 1/3 of countrys natural gas demand

    Operate 1.9 bcfd of natural gas and 120 mbd ofcrude and condensate

    2011 net production 209 MBOED

    Myanmar

    28.3% non-operated equity interest Supply for Myanmar domestic demand and

    export to Thailand

    2011 net production 14 MBOED

    Vietnam

    Integrated gas to pipeline to power project

    Cambodia

    Expanding Thailand cadjacent opportunitie

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