Chevron Corporation - Digital Transformation Strategies

Chevron Corporation - Digital Transformation Strategies

Summary

This report provides insight into Chevron Corporation’s tech activities, including its digital transformation strategies, its innovation programs, its technology initiatives, its estimated ICT budget, and its major ICT contracts.

Chevron Corporation (Chevron) is an integrated oil and gas company with global business presence that operates across the value chain from exploration, production, storage, pipeline, transportation, and refining to marketing and distribution of oil and gas products. Its products include crude oil, natural gas, fuels, lubricants, petrochemicals, and additives. Chevron operates through three reportable segments: Upstream, Downstream, and All Other. The Upstream segment involves activities like exploration, development, and production of oil and gas resources, while Downstream involves production of chemical products and lubricants. The All Other segment includes insurance operations, real estate activities, technology companies, corporate administrative functions, and worldwide cash management and debt financing activities.

Chevron partnered with Plug and Play to create an innovation program dedicated to support its Energy & Sustainability strategy.

Chevron Technology Ventures launched the Catalyst Program to support early stage companies that have already received seed funding to further advance their technological development through Chevron’s R&D Labs.

Chevron Technology Ventures partnered with The Cannon to have a permanent working space, have exposure to disruptive startups and emerging technologies by being a part of networking events taking place in the co-working community, and build long term strategic relationships to support its digital transformation strategy.

Scope

• Chevron gathers real-time information on its operations through sensors installed in its oil wells and capturing other machine-to-machine data.
• Chevron is enabling real time information analysis using various digital technologies to improve quality and speed of its decision making.
• Chevron has employed various risk management processes to mitigate business risks related to operations, finances, commodity pricing forecasts, project approvals, geopolitical, legislative, and data security.
• Chevron has enabled fully automated drilling operations and inspection of pipelines.
• The company has inked various strategic partnerships with other technology firms to gain a competitive advantage using technologies offered by them.
• Chevron is using seismic imaging to run 3-D surveys and capture subsurface geology data for accelerating discovery of oil and gas.

Reasons to Buy

• Gain insights into Chevron Corporation's tech operations.
• Gain insights into its tech strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into various product launches, partnerships, investments and acquisition strategies.