GreenGulf

Chevron and GreenGulf Sign Agreement to Study Solar Energy in Qatar

GreenGulf

DOHA, Qatar, 25 April 2010 —Chevron Qatar Energy Technology QSTP-B, an affiliate of Chevron Corporation, and GreenGulf Inc. QSTP-B (GreenGulf), a Qatar-based renewable energy and clean technology company, today announced the signing of a memorandum of understanding for a joint study to test solar energy technologies and their application in Qatar.

The research will be performed at Qatar Science & Technology Park (QSTP). The project will collect and evaluate the data provided by technologies to be located at a 35,000 square meter solar test site at QSTP. The project will also study the performance of different photovoltaic and solar thermal technologies.

The project supports QSTP’s strategy for assisting in the development of a national solar energy industry in Qatar. Solar technologies vary in their sensitivity to dust and heat and use different amounts of land and water, which can reflect their relative costs. Measurements obtained over a period of years under Qatar climate conditions are expected to help local planners evaluate, select and install technologies best suited to local conditions.

Under the memorandum of understanding Chevron and GreenGulf will each invest up to $10 million in the study program, with Chevron’s investment part of an initial $20 million commitment to QSTP. Technology tests are expected to commence in late 2010 and continue for two to four years.

Omran Al-Kuwari, CEO of GreenGulf Inc, said “We see solar as potentially an important part of the region’s future energy mix. Together with energy efficiency, we need to identify appropriate technologies and applications and demonstrate that they are sustainable solutions. GreenGulf’s joint study with Chevron provides a strong foundation on which to build that knowledge and ensure that we are updated on this rapidly moving industry.”

Carl Atallah, Vice President of Chevron Qatar Energy Technology, said “Bringing together parties with appropriate strengths is the key to successful projects. Chevron’s technical expertise, GreenGulf’s entrepreneurial vision and Qatar Foundation’s science community at QSTP bring together excellent resources for studying solar energy. Chevron is proud to take a lead technical role in this study on sustainable energy in Qatar.”

Dr. Tidu Maini, Science & Technology Advisor to HH Sheikha Mozah Bint Nasser Al Missned and Executive Chairman of QSTP, said “In order to commercialize solar technologies and realize their full potential, we must carefully understand the environmental effects such as dust, humidity, and radiation patterns. From this we can build realistic cost parameters based on actual Qatar conditions. I commend Chevron and GreenGulf on their partnership and am proud that QSTP will be the center for this vital solar research.”

Chevron announced in February 2009 that it will establish its Center for Sustainable Energy Efficiency (CSEE) at QSTP and is now in the process of building out the Center. Through the CSEE Chevron supports Qatar’s goal for energy sustainability through research, demonstration and training of solar power and energy efficiency technologies. The Chevron CSEE will identify solar power, solar air-conditioning and buildingefficiency technologies that work best in Middle Eastern conditions. The Center is scheduled to open in mid 2010.

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About Chevron Corporation

Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company’s success is driven by the ingenuity and commitment of its employees and their application of the most innovative technologies in the world. Chevron is involved in virtually every facet of the energy industry. The company explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.

About GreenGulf

GreenGulf is a Qatar-based business focused on renewable energy and clean technologies. Launched in 2008, it provides advisory services on the development of solar and other renewable energy projects in the Middle East and North Africa region. The Solar Test Facility project was announced on March 18, 2009, under the patronage of Her Highness Sheikha Mozah Bint Nasser Al-Missned, Chairperson of the Qatar Foundation.

Media Contacts:

Ben Figgis, Chevron Qatar Ltd., benfiggis@chevron.com, +974 409 8105

Patrick Forbes, Green Gulf Inc., patrick@forbes-associates.com, +974 588 5345

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