ChevronTexaco unveiled a new company on Monday, the Energy Technology Co. (ETC), which will combine the oil and gas major’s exploration and production technology and energy research arm as part of a long-term planning effort to meet current and future business needs.
The company’s two other technology companies — ChevronTexaco Technology Ventures and ChevronTexaco Information Technology — will continue under their current organizational structures.
ETC was created to provide an integrated approach to managing technology resources for ChevronTexaco’s global business portfolio, and is expected to support key corporate strategies that will increase upstream growth and transform downstream into a more competitive business. ETC also is expected to address new businesses, including Global Gas, and support early-stage businesses such as hydrogen storage.
“The combination is a natural extension of our past successful efforts to integrate both upstream and downstream technology capabilities,” said Don Paul, chief technology officer. “We’ve seen significant benefit from combining traditional manufacturing technologies into major oil field capital projects.”
ETC will have major technology centers in Richmond, CA, at CVX’s headquarters in San Ramon, CA and in Bellaire, TX outside of Houston. Mark B. Puckett, now president of the Exploration and Production Technology Co. for CVX, will lead the new venture and be based in Bellaire. Gary M. Masada, current president of the company’s Energy Research and Technology Co., moves over to chief information officer of the company’s Information Technology Co. Masada replaces David M. Clementz, who is retiring after 30 years.
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