Chevron Names John S. Watson EVP for Strategy and Development; Outlines New Upstream Organization

SAN RAMON, Calif., Aug. 14 /PRNewswire-FirstCall/ -- Chevron Corporation today announced that John S. Watson will become executive vice president, Strategy and Development, reporting to Dave O'Reilly, chairman and chief executive officer. The new position will take effect January 1, 2008.

Watson, 50, is currently president of Chevron International Exploration and Production. In his new position, Watson will oversee business development, mergers and acquisitions, strategic planning and the Project Resources Company, which supports the development of major capital projects within Chevron.

Chevron also announced that it will restructure its global upstream operations into four operating companies to strengthen the company's focus on long-term growth opportunities and enhance key business partnerships.

"These changes reflect our strong focus on growth, partner engagement and a disciplined approach to running our company," O'Reilly said. "John's exceptional track record in senior corporate and operating roles makes him uniquely qualified for this critical role, which will be responsible for strategic growth and new business development. He also will be responsible for expanding the company's capacity for successful execution of major capital projects."

Watson joined Chevron in 1980 as a financial analyst and has held positions of increasing responsibility in his career. He was appointed president of Chevron Canada Ltd. in January 1996 and in February 1998 became vice president, Strategic Planning, for Chevron Corporation. Watson served as the integration executive for the merger of Chevron and Texaco, and in October 2001 he was named vice president and chief financial officer of the corporation. He assumed his current role in December 2004.

George Kirkland, executive vice president Upstream and Gas, announced a new management team and organizational structure for Chevron's worldwide exploration and production group. The organization will expand from two companies (Chevron International Exploration and Production and Chevron North America Exploration and Production) to four: Africa and Latin America; Asia Pacific; Eurasia, Europe and Middle East; and North America. The groups will be led by the following senior Chevron executives, reporting to Kirkland, effective January 1, 2008:

-- James Blackwell will become president of Chevron Asia Pacific Exploration and Production, based in San Ramon. Blackwell most recently served as managing director, Southern Africa. -- Guy Hollingsworth will become president of Chevron Eurasia, Europe and Middle East Exploration and Production, based in London. Hollingsworth is currently managing director, Eurasia. -- Gary Luquette will be president of Chevron North America Exploration and Production, a position he currently holds, based in Houston. -- Ali Moshiri will become president of Chevron Africa and Latin America Exploration and Production, based in Houston. Moshiri is currently managing director, Latin America.

Additionally, Chris Prattini will become vice president, Upstream Capability. This position will focus on enhancing efficiencies, standardization and collaboration across the global upstream organization. Prattini is currently managing director, IndoAsia.

"These changes reflect the significant growth of Chevron's global upstream operations over the past 15 years and position our company to manage continuing growth in the future," Kirkland said. "It will also help expand leadership capacity across the upstream organization and create growth opportunities for the company's next generation of leaders."

Chevron is one of the world's leading integrated energy companies. The company has about 58,000 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 about Chevron is available at http://www.chevron.com/.