Chevron Thailand Announces $30 Million Thailand Partnership Initiative
BANGKOK, Thailand, April 3, 2015 – Chevron Thailand Exploration and Production, Ltd. (Chevron Thailand), today announced a $30 million commitment to create the Thailand Partnership Initiative (TPI), a five-year program to strengthen Thailand's competiveness and innovation by improving science, technology, engineering and mathematics (STEM) education and vocational education across the country.
Over the next five years, the TPI will work in partnership with leading non-government organizations, academia, key government organizations in science and education, and the private sector, to increase the quality of science and mathematics teaching in Thailand, establish 18 training hubs nationwide and promote the study of science, technology, engineering and mathematics.
"Chevron is committed to increasing access to and the quality of science, technology, engineering and mathematics education in Thailand" said Brad Middleton, Chevron Asia South managing director, "A skilled workforce is critical to the success of our business and Thailand's economic growth."
"Chevron strives to build lasting partnerships that contribute to local economies. Education has been a focus for Chevron over our 50 year history in Thailand" added Pairoj Kaweeyanun, Chevron Thailand president, "Over the next five years we will work together with local partners to develop the Thai workforce to meet industry's needs."
The initiative focuses on mathematics and science education at the seventh–ninth grade levels and technical and vocational education at the 10th–14th grade and community college levels. It will be implemented across every region of Thailand: central Thailand, the South, the North and the Northeast. The initiative will establish a network of 12 STEM training hubs and 6 vocational and technical training hubs, which will cover over 600 schools. The project will directly benefit over 500,000 students, teachers, principals, government officials, and workers, providing increased career opportunities.
About Chevron Thailand Exploration and Production, Ltd.
Chevron Thailand is the top oil and gas producer in the Kingdom and has been delivering natural gas, safely and reliably, to the country since 1981. Chevron's operations fulfill approximately one-third of Thailand's power demand. Chevron's Gulf of Thailand operations support the country's economic future and are a significant contributor to the Kingdom's economy, including employing a predominantly Thai workforce of approximately 2,000 people.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 Some of the items discussed in this press release are forward-looking statements about Chevron's activities in Thailand. Words such as "anticipates," "expects," "intends," "plans," "targets," “forecasts,” "projects," "believes," "seeks," “schedules,” "estimates," "budgets," “outlook” and similar expressions are intended to identify such forward-looking statements. The statements are based upon management's current expectations, estimates and projections; are not guarantees of future performance; and are subject to certain risks, uncertainties and other factors, many of which are beyond the company's control and are difficult to predict. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are changes in prices of, demand for and supply of crude oil and natural gas; actions of competitors; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s net production or manufacturing facilities or delivery/transportation networks due to war, accidents, political events, civil unrest, or severe weather; government-mandated sales, divestitures, recapitalizations, industry-specific taxes and changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; and general economic and political conditions. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. NOTICE
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