110-MW Darajat III Unit to Provide Renewable Energy for Approximately
700,000 Additional Homes
SAN RAMON, Calif., Aug. 13 /PRNewswire-FirstCall/ -- Chevron
Corporation (NYSE: CVX) today announced the start of commercial production
at its 110- megawatt (MW) Darajat III geothermal power plant in Garut, West
Java, Indonesia.
Production from the Darajat III unit, operated by Chevron's subsidiary
Chevron Geothermal Indonesia, Ltd., increases the total capacity at the
Darajat geothermal facility to 259 MW. The combined output from Chevron's
Darajat and Salak geothermal operations now produces sufficient renewable
energy to supply approximately 3.9 million homes in Indonesia.
"Chevron is proud to be involved in the development of this significant
renewable energy project, which builds on our position as the largest
geothermal energy producer in the world," said John Watson, president of
Chevron International Exploration and Production. "Over the past 30 years,
Chevron has been working with countries such as Indonesia to harness their
geothermal resources to meet growing energy demand and sustainable
development objectives."
Through its geothermal operations in Indonesia and the Philippines,
Chevron is a leader in developing the world's geothermal fields. Chevron's
global geothermal operations have installed capacity to produce a total of
1,273 MW of geothermal energy, accounting for more than half of all
privately developed capacity.
Chris Prattini, managing director of Chevron's IndoAsia Business Unit
said, "We extend our gratitude to the government and community for their
ongoing support of our geothermal operations. Chevron has had a presence in
Indonesia for more than 80 years, and we are pleased to be able to bring
our leading-edge technology, reservoir management skill and drilling
capabilities to help develop the country's geothermal resources for the
people of Indonesia."
The Darajat III unit has been approved by the United Nations as a Clean
Development Mechanism (CDM) project, a market-based instrument of the UN's
Kyoto Protocol to encourage implementation of cost-effective greenhouse gas
reductions. Darajat III is the largest geothermal energy project to be
registered under the CDM program.
Chevron operates four geothermal facilities in the Asia-Pacific region.
In the early 1970s, the company made two discoveries in the Philippines,
which led to the development of the Tiwi and Mak-Ban geothermal resources.
Commercial production from two further discoveries, Salak and Darajat in
West Java, Indonesia, began in the 1990s. Darajat Units II and III were
developed in conjunction with local Indonesian partner PT. Darajat
Geothermal Indonesia under a Joint Operation Contract with Pertamina.
Chevron is one of the world's leading integrated energy companies. The
company has about 56,000 employees, and Chevron's subsidiaries conduct
business in approximately 180 countries. Chevron operates across the entire
energy spectrum-exploring for, producing and transporting crude oil and
natural gas; refining, marketing and distributing fuels and other energy
products; generating power; designing and marketing large-scale energy
efficiency solutions; and commercializing the energy resources of the
future, including biofuels and other renewables. Chevron is based in San
Ramon, Calif. More information on Chevron is available at
http://www.chevron.com .
Cautionary Statement Relevant to Forward-Looking Information for the
Purpose of "Safe Harbor" Provisions of the Private Securities Litigation
Reform Act of 1995.
Some of the items discussed in this press release are forward-looking
statements about Chevron's geothermal development activities. Words such as
"anticipates," "expects," "intends," "plans," "targets," "projects,"
"believes," "seeks," "estimates," "budgets" and similar expressions are
intended to identify such forward-looking statements. The statements are
based upon management's current expectations, estimates and projections;
are not guarantees of future performance; and are subject to certain risks,
uncertainties and other factors, some of which are beyond the company's
control and are difficult to predict. You should not place undue reliance
on these forward-looking statements, which speak only as of the date of
this press release. Unless legally required, Chevron undertakes no
obligation to update publicly any forward-looking statements, whether as a
result of new information, future events or otherwise.
SOURCE Chevron Corporation
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Related links:
http://www.chevron.com/
CONTACT:
Alex Yelland, +1-925-842-0456; Nicole
Hodgson, Bangkok, Asia, +66 81932 6912; Santi Manuhutu, Jakarta,
Indonesia, +62 21 343 51178
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