Bangladesh Fact Sheet | April 2013

Bangladesh Fact Sheet

Highlights of Operations
Chevron is the largest producer of natural gas in Bangladesh, supplying approximately 50 percent of the country's natural gas consumption. It has increased production tenfold in the last decade to meet the country's ever-increasing demand for natural gas. Through Chevron's subsidiaries in Bangladesh, the company produces natural gas and condensate from three fields in the northeast of the country. Of these, Bibiyana is the largest, constituting 35 percent of the country's total production. And we are planning to expand operations at Bibiyana. Chevron Bangladesh has achieved a remarkable record of safety. And across our operations in Bangladesh, we work with our communities, building long-term partnerships that foster economic development and lasting benefits to them.

Business Portfolio Exploration and Production

All the natural gas and condensate Chevron produces in Bangladesh is sold to Petrobangla, the national oil company. Through Chevron subsidiaries, the company operates three fieldsBibiyana, Jalalabad and Moulavi Bazarunder production-sharing contracts signed with Petrobangla. In 2012, net daily production averaged 550 million cubic feet of natural gas and 2,000 barrels of condensate. Condensate is liquid hydrocarbon produced with natural gas. In April 2012, Chevron launched the Muchai compression project, which supports additional production from the Bibiyana, Jalalabad and Moulavi Bazar natural gas fields. Putting Innovation to Work in Bibiyana Chevron operates the Bibiyana Field in Block 12. The field is one of the most significant natural gas discoveries in Bangladesh, in both quality and size of the reserve. Chevron decided to move ahead with the Bibiyana expansion project in July 2012. The $500 million expansion project includes a gas plant expansion, new development wells and an enhanced liquids recovery unit. It is expected to increase the total maximum daily production by more than 300 million cubic feet of natural gas and 4,000 barrels of condensate. First production from the expansion project is expected in 2014. Four development wells were drilled at Bibiyana in 2012, and more development drilling is planned for 2013 and 2014. Producing Natural Gas from Jalalabad Chevron operates the Jalalabad Field in Block 13, another top-producing gas field in Bangladesh. We plan to complete a three-dimensional seismic survey of the Jalalabad Field in 2013 to assess the potential for additional development drilling. Efficiently Delivering Energy from Moulavi Bazar Chevron produces natural gas from the Moulavi Bazar Field in Block 14. A 3-D seismic survey was conducted at the Moulavi Bazar Field in 2008. This survey supported the drilling of two new development wells, which were put into production in 2012.

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In the Community
In areas where we operate, Chevron Bangladesh invests in activities and programs that focus primarily on economic development, education and health care. Our social investment initiatives affect the lives of approximately 30,000 people in Bangladesh. We carry out most of these projects in partnership with leading nongovernmental organizations (NGOs). Our employees also participate in community development projects.

Improving Livelihoods
Most of Chevron's social investment programs in Bangladesh focus on improving the quality of life and economic opportunities for the communities where we work. These development programs have organized villagers into self-help groups and provided skills training and seed funds that have launched a variety of small and medium-sized enterprises. In 2011 and 2012, Chevron began to support programs that offered families better cooking stoves and solar panels. This project is reducing energy costs in 1,000 households and 10 schools in seven villages near the Bibiyana and Moulavi Bazar fields. In 2006, Chevron launched economic development programs in about 100 villages in the Bibiyana Field. By 2012, these programs were helping about 4,000 families in all three fields. These initiatives are developed in partnership with the Institute of Development Affairs, Prochesta and the Center for Natural Resource Studies.

Improving Public Health

Working with the NGO Service Delivery Project and the U.S. Agency for International Development, we helped start three community clinics near the Bibiyana and Moulavi Bazar fields. These facilities provide about 72,000 individual health care services per year.

Creating Educational Opportunities

Chevron strives to improve the quality and availability of education for students around our operations. Our scholarship drive for high-achieving underprivileged students was launched in 2001, and the numbers have steadily increased since then. In 2012, we funded about 1,100 scholarships for students in 30 schools and two tribal communities. We are also helping to fund a fiveyear program that offers scholarships to students from across Asia and the Middle East who attend the Asian University for Women. We also support programs to improve children's learning experiences, including computer learning centers in two schools near the Bibiyana and Moulavi Bazar fields, an education endowment fund, and funding for school uniforms, sports equipment and school furniture.

Being a Good Neighbor

Chevron employees are active members of the community. In 2012, more than 400 employees donated blood in Chevron's annual drive to mark World Blood Donor Day. Also in 2012, Chevron helped plant more than 13,000 saplings on roadsides and at schools and clinics near Chevron's Bibiyana, Jalalabad and Moulavi Bazar fields. Each year, our volunteers help Habitat for Humanity International build low-cost, durable homes for people in need.

Record of Achievement
Chevron contributes to the economy of Bangladesh in several ways. We are the largest foreign investor and provide employment to about 3,000 Bangladeshis. In addition, Chevron was recognized as the highest corporate taxpayer in Bangladesh for the 20092010 fiscal year.

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Chevron has developed three natural gas fields in Bangladesh. The Jalalabad Field was discovered in 1989 and went into production in 1999. The Moulavi Bazar Field was discovered in 1999 and came on line in 2005. The largest producing field in Bangladesh, the Bibiyana Field, was discovered in 1998 and came on line in 2007.

Health, Environment and Safety

Chevron Bangladesh has maintained a remarkable safety record. As of the end of 2012, our workforce had achieved more than 38 million work-hours without a single day away from work due to an injury. Chevron partners with the government of Bangladesh and with Petrobangla to develop the country's energy resources in a safe, environmentally responsible manner. To protect the environment, Chevron uses the latest technologies and strict inspection procedures to ensure safe operations.

Contact Us Chevron Bangladesh

Naser Ahmed 57 Gulshan Avenue Gulshan-1, Dhaka-1212 Telephone: +880.2.989.2244 + 880.2.882.8891 Fax: +880.2.988.4398 Email: naahmed@chevron.com

Chevron Bangladesh Block 12, Ltd. Chevron Bangladesh Blocks 13 and 14, Ltd.
Dhaka Office Bay's Galleria 57 Gulshan Avenue (4th Floor) Gulshan-1, Dhaka-1212 Bangladesh Telephone: +880.2.989.2244 + 880.2.882.8891 Fax: +880.2. 988.4398 Sylhet Office Lackatoorah, Airport Road Sylhet 3100 Telephone: +880. 821.715390 Fax: +880. 821.715362 Updated: April 2013

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Some pages on Chevron.com contain forward-looking statements relating to the operations of Chevron Corporation or its subsidiaries that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words such as "anticipates," "expects," "intends," "plans," "targets," "projects," "believes," "seeks," "schedules," "estimates," "budgets," "forecasts," "outlook" and similar expressions are intended to identify such forwardlooking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company's control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this report. 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. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices; changing refining, marketing and chemical margins; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of equity affiliates; the inability or failure of the company's joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company's production or manufacturing facilities or delivery/transportation networks due to war, accidents, political events, civil unrest, severe weather or crude oil production quotas that might be imposed by the Organization of Petroleum Exporting Countries; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant investment or product changes required by existing or future environmental statutes, regulations and litigation; the potential liability resulting from other pending or future litigation; the company's future acquisition or disposition of assets and gains and losses from asset dispositions or impairments; government-mandated sales, divestitures, recapitalizations, industry-specific taxes, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; and the factors set forth under the heading "Risk Factors" in Chevron's Annual Report on Form 10-K for the year ended December 31, 2012. In addition, such statements could be affected by general domestic and international economic and political conditions. Unpredictable or unknown factors not discussed in Chevron's Annual Report on Form 10-K for the year ended December 31, 2012 could also have material adverse effects on forward-looking statements. CHEVRON, the CHEVRON HALLMARK, CALTEX, TEXACO, DELO, HAVOLINE, ISOCRACKING, ISODEWAXING, ISOFINISHING, POWER DIESEL, REVTEX, STAR MART, STAR LUBE, TECHRON, TOWN COUNTRY, URSA, and XPRESS LUBE are registered trademarks of Chevron Intellectual Property LLC.

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