SAN RAMON, Calif., Sept. 25 /PRNewswire-FirstCall/ -- Chevron
Corporation (NYSE: CVX) and Los Alamos National Laboratory today announced
the creation of a joint research project to improve the recovery of
hydrocarbons trapped in oil shales and slow-flowing oil formations.
The goal of the Chevron-Los Alamos collaboration is to develop an
environmentally responsible and commercially viable process to recover
crude oil and natural gas from western U.S. oil shales. The joint research
and development effort will focus on oil shale formations in the Piceance
Basin in Colorado. The work will include reservoir simulation and modeling,
as well as experimental validation of new recovery techniques, including a
form of in- situ (in-ground) processing that has the potential to mitigate
greenhouse gas emissions.
Chevron has applied to participate in the Bureau of Land Management's
research, development and demonstration leasing program in the Piceance
Basin. Chevron plans to use the 160-acre lease to evaluate the technologies
developed through its alliance with Los Alamos, subject both to approval
from the bureau and the success of the research program.
Oil shales are sedimentary rocks containing a high proportion of
organic matter called kerogen that can be converted into crude oil or
natural gas. The U.S. Geological Survey estimates the United States holds 2
trillion barrels of oil shale resources, with about 1.5 trillion barrels of
those resources located in the western United States, primarily in Wyoming,
Colorado and Utah.
The research project will be conducted under the Strategic Alliance for
Energy Solutions launched by Los Alamos and Chevron in 2004. The alliance
supports Los Alamos in its mission, on behalf of the U.S. Department of
Energy, to advance the national, economic and energy security of the United
States through scientific and technological innovation. It also supports
Chevron's strategy to develop innovative research and educational
partnerships within the energy industry.
"Energy security is one of the greatest challenges facing the nation,
and developing new sources of energy, including hydrocarbons, is of
paramount importance," said Terry Wallace Jr., principal associate director
for science, technology and engineering at Los Alamos. "The Chevron-Los
Alamos alliance links important efforts in energy security with Chevron's
research to develop technologies that can brighten our energy future."
For Chevron, the collaboration with Los Alamos strategically supports
the company's goal to develop promising energy technologies that will
deliver additional energy supplies. "Today's 'unconventional' energy
sources, such as oil shales and other tight formations, will become part of
the core energy supplies in the future, and our alliance can play a
significant role in unlocking the potential of these resources," said
Donald Paul, chief technology officer, Chevron Corporation.
"The alliance with Los Alamos has already led to several breakthroughs
in oil and gas technology, including the reduction of ultrahigh casing
pressures in deepwater wells and improved well performance," said Mark
Puckett, president, Chevron Energy Technology Company. "Oil shale resources
offer exciting potential but present significant technological and economic
challenges that will be addressed by our alliance. We expect our
collaboration with Los Alamos will lead to further advances that will
enhance our ability to recover oil reserves in the U.S."
The research and development work by the alliance will be performed at
Los Alamos National Laboratory in Los Alamos, N.M., as well as at Chevron's
technology center in Houston. Over the past two years, Chevron and Los
Alamos have cooperated on a variety of projects and breakthrough
technologies, including radio frequency telemetry, advanced sensor
technology for the collection and transmission of oil well data, and the
mitigation of deepwater ultrahigh casing pressures.
In addition to the alliance with Los Alamos, Chevron is actively
engaged in several other innovative partnerships with research and
development institutions, universities, government laboratories and
industry partners. Los Alamos has an active industry partnering program and
has worked over the past five years with more than 250 large and small
companies to address national technology challenges.
About Los Alamos
Los Alamos National Laboratory (http://www.lanl.gov) is operated by Los Alamos
National Security, LLC, for the U.S. Department of Energy's National
Nuclear Security Administration (NNSA) and works in partnership with NNSA's
Sandia and Lawrence Livermore National Laboratories to support NNSA in its
mission. Los Alamos develops and applies science and technology to ensure
the safety and reliability of the U.S. nuclear deterrent; to reduce the
threat of weapons of mass destruction, proliferation and terrorism; and to
solve national problems in defense, energy, environment and infrastructure.
About Chevron
Chevron is one of the world's leading energy companies. With more than
53,000 employees, Chevron conducts business in approximately 180 countries
around the world, producing and transporting crude oil and natural gas, and
marketing and distributing fuels and other energy products. Chevron is
based in San Ramon, Calif. For more information, visit Chevron's Web site
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 activities. Words such as "anticipates,"
"expects," "intends," "plans," "targets," "projects," "believes," "seeks,"
"estimates" 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. Among the factors that could cause actual results to
differ materially are changes in demand for, and prices of, crude oil and
natural gas, the results of the research, political events, weather and
general economic conditions. 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
 back to top
Related links:
http://www.lanl.gov
http://www.chevron.com
CONTACT:
Don Campbell of Chevron, +1-925-842-2589; or
Hildi Kelsey of Los Alamos National Laboratory, +1-505-665-8040
|
