Chevron at a glance

Chevron corporation is one of the world's leading integrated energy companies with
subsidiaries that conduct business a cross the globe.

The company's success is driven by ingenuity and commitment of approximately by

59,000 employees who operate a cross the energy spectrum.

Chevron explores for, produces and transports crude oil and natural gas; refines,
markets and distributes fuels and other energy products and services; manufactures
and sells petrochemical products; generates power and produces geothermal energies
and develops and commercialized the energy resource of the future, including bio fuels
and others renewable.

Headquartered in San Rome, California , Chevron is collaborative enterprise whose

many parts work in concert to deliver vital energy. Acting with a common vision all
around the world, our various business fulfil our commitment to provide the energy that
drives human progress. We are relentlessly focused in producing safe and reliable
energy now and for the future by applying the energy we have most in abundance;
Human Energy

In carrying out its business, Chevron is guided by the Chevron way. The Chevron way
explains who we are, what we do, what we believe and what we plan to accomplish. It
establishes a common understanding not only for those of us who work here, but for all
who interact with us.

At the heart of The Chevron Way is our vision: to be the global energy company most
admired for its people, partnership and performance. Our company's foundation is built
on our values, which distinguish us and guide our action. We conduct our business in a
socially responsible and ethical manner. We respect the law, support universal human
rights, protect the environment and benefit the communities where we work.

Chevron IndoAsia

Strategic Business Unit

Chevron's first step major in Asian energy exploration and production was taken in
1924, when Standard Oil of California (Socal), now Chevron, dispatched a geological
expedition to the island of Sumatra, Indonesia. In 1936, the as-yet unproductive holding
were taken over by Caltex, the worldwide joint venture between Texaco and Socal.

Socal later changed its name to Chevron. In 2001, Chevron and Texaco officially
merged to become Chevron Texaco - thereby establishing one of the largest energy

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companies in the world. In May 2005, Chevron-Texaco changed its name to Chevron
Corporation.

The year 2005 also marked another important milestone for Chevron, as in that year
Chevron and Unocal officially merged. As a result, Chevron's position as a global
energy leader was further strengthened.

Through Chevron Asia Pacific Exploration & Production (CAPEP), Chevron conducts
operations in both Indonesia and the Philippines under the IndoAsia Strategic Business
Unit (IBU).

IBU runs upstream and power operations through the following Chevron subsidiaries:
PT. Chevron Pacific Indonesia (CPI) and Chevron Indonesia Company (CICo) in the
field of oil and gas exploration and production; Chevron Geothermal Indonesia,Ltd. and
Chevron Geothermal Salak, Ltd., both operating in Indonesia, and Chevron
Geothermal Philippines Holding Inc. (CGPHI) in the Philippines for geothermal and
power generation. As of December 2007, IBU's activities were supported by over 7,000
high skilled and dedicated employees.

Number One Oil Producer in Indonesia

Chevron IBU produces nearly half of Indonesia’s crude oil. In 2007, Chevron’s total
daily production in Indonesia averaged more than 503,000 barrels per day of liquids,
making Chevron the country’s largest oil producer. Meanwhile, the total daily production
of natural gas in 2007 stood at 606 million cubic feet.

From its onshore fields in three PSC (production-sharing contract areas in Sumatra,
IBU manages the world’s largest steam-flood operation at the Duri Field, as well as
extensive water-flood operations at the giant Minas and Kotabatak Fields. The Duri,
Minas and Kotabatak Fields are part of the CPI operations, and cover an area of more
than 8,800 square kilometres in Riau Province.

IBU also operates the Dumai Terminal, which is the loading poin for oil transported from
oil wells through a pipeline system extending for some 1,000 kilometers before being
loaded onto ocean-going oil tankers. Using high speed pumps, the Dumai facility can
load 4 tankers simultaneously from its 6 million barrel tank farm.

Meanwhile in East Kalimantan, IBU operates offshore production fields under two PSCs
covering approximately 8,800 square kilometres. Crude oil and natural gas from the
southern fields are processed at the Lawe-Lawe terminal, from which IBU is the sole
supplier of natural gas to Balikpapan’s Pertamina Refinery. Meanwhile, oil and gas
production from the northern and deepwater fields are processed at the Santan
terminal. Natural gas is then transported to the world’s largest liquefied natural gas

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(LNG) plant at Bontang, or supplied to petrochemical plants in the Kaltim Industrial
Estate.

Chevron IBU also explores for offshore oil and gas and holds interests in a number of
growing, non-operated working interests in the south Natuna sea block B and north
east Madura III block.

A Leading Global Geothermal Producer

IBU pioneered the development of geothermal energy in Indonesia and the Philippines.
Thanks to its operations in these two countries, Chevron is now the world’s largest
geothermal energy producer. Overall, Chevrons IBU’s geothermal operations can now
produce 1,273 megawatts, enough energy to meet the needs of 16million people in
Indonesia and the Philippines.

In Indonesia, Chevrons two geothermal projects in West Java, Salak and Darajat,
generate over 630MW of clean, reliable and affordable energy, which represents over
50% of the total geothermal production in Indonesia’s growing economy.

The Salak project is among the largest in the world with a total geothermal generation
capacity of 377 MW. In mid 2007, Chevron announced the start of commercial
production at the 110 MW Darajat III geothermal power plant - increasing the total
capacity of the Darajat facility to 259 MW

All the power from the Darajat site is supplied directly to the national grid. The
combined output from both geothermal operations produces enough renewable energy
to power up 3.9 million homes in Indonesia.

Chevron geothermal Philippines Holdings, Inc. successfully pioneered the development

of that country’s geothermal industry in partnership with the Philippine government in
1971. This venture, which started as a 2.5-kilowatt experiment in Tiwi, led to what is
now a thriving 1,978 MW geothermal energy industry.

CGPHI operates steam fields that provide geothermal energy to the Tiwi and Makiling-
Banahaw (Mak-Ban) power plants located in Albay and Laguna-Batangas Provinces.
These facilities generate more than 630 megawatts and supply 7% of the electricity
requirement in Luzon, the country’s most populous island and home to 48 million
people.

Advanced Technology to Deliver World-Class Performance

Technology plays a crucial role in advancing all aspects of our business. It enables us
to find new resources, overcome geological challenges and to achieve the best and
most cost effective results. We use specialized heat management techniques, such as

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steam-flooding and other enhanced recovery technologies to coax heavy oil from our
mature field. Technology also helps us to develop renewable forms of energy, such as
geothermal energy.

In 1970, Chevron began to apply water injection technology in Minas, the largest oil
field in Indonesia. Since then, the secret to the success of Minas has been “pattern
water-flooding”, or the injection of water into the reservoir to help push available oil to
the surface.

Water-injection technology serves two purposes: the pressure from water re-injected
into the reservoir increases oil production, while the elimination of water discharges
contributes to Chevron’s goal of maintaining its position as a leader environmental
performer in the oil and gas industry.

Chevron also operates the world’s largest steam-flooding project at Duri (the DSF),
which employs state-of-the-art technology to recover heavy crude oil from relatively
shallow reservoirs.

Steam flooding technology has significantly prolonged the life of the Duri Field, which
accounts for almost of Chevron’s production in Sumatra. On November 9, 2006 the
Duri Field recorded an important milestone with the production of its two billionth barrels
of oil.

People Continue to be our Single Greatest Asset

None of our aspirations for the future can be met without a world-class workforce.
Getting the right people with the right skill on the right opportunities at the right times
remains a critical success factor for our plans.

IBU’s employees work in an inclusive working environment and we aggressively

embrace diversity of people, idea, talent, and experience. We also recognize the value
of local employees and contractors, who reflect the markets it serve and the
communities where it operates. Currently over 97 percent of IBU employees are
Indonesians and Filipino nationals.

We continuously strive to ensure that employees are positioned to achieve their goals
and grow with their careers through Chevron sponsored development program, many of
them in the United States. Well over 1,000 Indonesian employees, for example, have
completed US-base development assignment.

At the same time, Chevron's worldwide operations provide many opportunities for
employees to gain experience outside their home countries. Currently there are over 60
Indonesian employees on prestigious Chevron global workforce assignment in other
continents, including the Americas, Europe and Africa

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Health, Environment and Safety
Protecting people and the environment, and conducting our operations reliably and
efficiently are an integral part of The Chevron Way. Chevron and its employees place
the highest priority on the health and safety of our workforce and protection of our
environment and assets. "Protecting the Future Today" is a policy and management
system which is aimed ensuring that IBU's business is conducted in a social
responsible and ethical manner.

IBU continuously endeavours to maintain its reputation for world-class performance

through discipline application of The Operational Excellence Management System
(OEMS), with all operation being guided by the following two tenets:
"Do it safely or not at all" and "There is always time to  do things right".

To improve safety, Chevron has developed an integrated emergency response plans

covering major types of incidents including fire, oil spill, natural disasters, security
incidents, health incidents, etc. Emergency response and business recovery plans have
been developed and full-scale exercises are conducted regularly.

In the environmental protection field, the company supports re-greening, natural park,
conservation area and many other environmental programs around the country.

In Balikpapan, East Kalimantan, Chevron initiated a domestic waste management

program in 2005. This initiative was successfully promoted healthy and sanitary
practices and created additional income for 450 households.

Meanwhile in Salak, Chevron's geothermal project is located in one of Indonesia's

largest national park. Consequently we work hand in hand with farmers, park rangers
and international wildlife groups to protect the park's biodiversity.

Building Strong and Valuable Partnerships

Partnerships help us achieve our mission and demonstrate our values. We are engaged
in partnerships that span the breadth of our business. From governments to joint
ventures to communities, building and supporting partner relationship is central to who
we are and how we do business. We also engage and balance the need of key
stakeholders and endeavour to maximize the positive impacts of our operations for
current and future generations.

We believe that by investing in people we all benefit. Our community investment

initiative develop sustainable human and institutional capacity to help stimulate
economic growth and enable communities to prosper. Our community engagement
programs cover three principal areas: education, health and income generation.

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In Indonesia, Chevron makes a real and tangible contribution to the education sector.
We have been running community engagement programs for communities living in the
vicinity of our operations ever since the 1950s. The first such initiative saw the handing
over of the very first high school in Pekanbaru on 8 October 1950. This school, now
known as State High School No.1, Pekanbaru, has developed into one of the most
popular schools in the region, and many of its alumni have gone on to occupy important
positions in the community and government. We also built and sponsored the Politeknik
Caltex Riau (PCR/Riau Caltex Polytechnic), one of the most prestigious higher
education institutions in Riau. We have also been active in improving the capabilities of
the Sakai community (indigenous tribe in Riau) by providing scholarships to Sakai
children.

In East Kalimantan, Chevron,  in collaboration with the Panajam Paser Utara Education
Agency and the Marangkayu District office of education agency, has launched a school
development program (SDP) that it is hoped will lead to the emergence top-class
schools on a par with “national plus” schools so as to bring about a quantum leap in the
quality of education in the province.

In Yogyakarta and West Sumatra, we helped rebuild two elementary schools, SDN
Kalongan in Sleman regency and SDN 06 Aie Angek in Tanah Datar regency, which
were totally destroyed by the earthquakes in both area respectively. The school were
rebuilt based one a unique partnership model known as “sustainable reconstruction
recovery through partnership”. This partnership mechanism is based on creating a
sense of belonging among all the stakeholders so that the sustainability of the program
could be ensured. The local people, members of the school committee, parents of the
students as well as local government were actively involved in the school rebuilding
effort.

We support a range of different health services for local communities in our operating
areas, such as, providing medication & immunization, treating children with birth
defects, and providing clean water.

As for income generation programs, Chevron offers training in agriculture, fishing and
home industry, as well as providing assistance to businesses. In Garut, West Java, for
instance, we have contributed to community bodies that promote sheep breeding, duck
rearing and other livestock projects. Meanwhile, the Local Business Development
Program (LBDP) in Riau and the Community Development Enterprise Program (CDEP)
in East Kalimantan have successfully improved the capabilities of local small and
medium businesses and cooperatives.

In response to the devastation produced by the 26 December 2004 tsunami, we

initiated the Chevron Aceh Recovery Initiative (CARI), and contributed approximately

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US$15 million for immediate relief efforts, and to support rapid recovery and
reconstruction in Nanggroe Aceh Darussalam and other tsunami-effected areas of
Indonesia through the delivery of increase economic growth, human capacity and
buildings programs covering education, vocational training and micro-enterprise and
small business development. One of the initiatives involved the establishment of a
polytechnic institution in Aceh, called the Politeknik Aceh, in partnership with the
Government of Nanggroe Aceh Darussalam NAD), The Aceh-Nias Reconstruction and
Rehabilitation Agency (BRR) and the United States Agency for International
Development (USAID). The construction of Politeknik Aceh began in July 2007, with the
official opening expected to take place in August 2008.

Our dedication to collaboration and innovation supports our commitment to being the
partner of choice in the energy industry. As a result, our businesses in Indonesia
received several national awards in 2007, as in many previous years. Among these
were honours in the areas of employee career development, HIV-AIDS prevention,
worker safety, environmental protection an being the nation’s best and most admired
company.