Update to Chevron Statement on Myanmar

SAN RAMON, Calif.- Chevron supports the calls for a peaceful resolution to the current situation in Myanmar in a manner that respects the human rights of the people of Myanmar.

Chevron’s interest in the Yadana natural gas project is long-term and we are committed to helping meet the energy needs of millions of people in the region and to play a constructive and positive role in local communities. Through the project, Chevron supports critical health, economic development, and education programs that make substantive and positive improvements to the lives of 50,000 people in the Yadana project communities.

Sanctions that require Chevron to sell its interest in Yadana would not affect Yadana operations or the revenues produced by the project. If Chevron were to sell its interest it could generate hundreds of millions of dollars in additional revenue for the Government of Myanmar and endanger important social and economic development programs.

As a number of academics and organizations have stated recently, attempts to isolate Myanmar further is likely to be counterproductive. Chevron believes that social and economic development are interrelated. Constructive engagement, together with development programs and support, will ultimately contribute to peace and prosperity for the people of Myanmar.
Yadana Natural Gas Project

Chevron holds a minority share in the Yadana natural gas project following the acquisition of Unocal in 2005. The Yadana natural gas project is operated by Total.
Myanmar Community Development Program

The Yadana Project partners have invested in a model socio-economic program that positively improves people’s lives in Myanmar. The Yadana project community development programs have delivered the following benefits:

* 50,000 people along the Yadana pipeline now have free and improved healthcare
* Ten doctors now work in villages when there were none and thirty-three health care workers have been trained
* Local infant mortality rate is 1/6th the national rate
* Malaria mortality rates down by a factor of 10
* TB mortality rate halved since 2002
* Forty-four schools have been built and 20 renovated in 23 villages
* Student enrollment in schools has doubled
* Financial support to 350 teachers, library program to 16 schools, scholarship program for 1,050 pupils and computers at 8 schools
* Improvements to local roads and the building of 24 bridges have resulted in both public and private transportation that was nearly nonexistent before the pipeline project
* 6,300 projects loans for small businesses have been granted resulting in numerous enterprises that help generate economic development for local communities

Chevron also separately funds community programs on a regional level in Myanmar through support for PACT*, an international NGO. The PACT program includes a primary health/TB/HIV education and treatment program for 400,000 people in central Myanmar. The program has yielded considerable results with TB control rates dramatically higher than non-participating villages. Chevron’s continued support will enable PACT to expand its work three-fold to 2,122 rural villages in 15 townships, eventually reaching an estimated population of 1.8 million people.