Chevron and ZL Chemicals Announce Technology Licensing Agreement for Advanced Chemical Surfactant Technology

Vantis™ technology designed to support resource recovery in shale and tight reservoirs

Chevron Technical Center, a division of Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE:CVX), and ZL Chemicals Ltd today announced a technology licensing agreement under which ZL may commercialize Chevron-developed chemical surfactant technology. ZL plans to offer products and services utilizing the licensed technology under the Vantis™ brand.

Chevron has developed and applied advanced surfactant technology to improve resource recovery in unconventional reservoirs. This licensing agreement enables an opportunity for broader commercial deployment of this technology.

"Technology creates more value when it can be applied broadly," said Ryder Booth, chief technology and engineering officer of Chevron Corporation. "Advanced chemicals are one of Chevron’s areas of differentiation and have supported innovation in our own operations. Through this licensing agreement, we’re creating a pathway for ZL to bring this technology to a broader market, and at scale."

Under the agreement, ZL will commercialize and market products and services under the Vantis™ brand utilizing the licensed technology. The Vantis™ product offering is expected to support applications in shale and tight reservoirs, including base well enhanced oil recovery programs and new well-optimization efforts.

"We are pleased to work with Chevron to expand access to this technology across a broader customer base," said Echo Liu, President of ZL Chemicals. "At ZL Chemicals, we are focused on delivering enhanced oil recovery chemistry and field services designed to support operators’ production and reservoir management objectives. Vantis™ represents the type of technology our customers are seeking, and we are positioned to deliver it as a scalable, turnkey service — from lab evaluation and QA/QC through application design, on-site deployment, and field execution. We look forward to supporting operators in their efforts to enhance recovery and extend the productive life of their assets across shale and tight reservoirs."

The agreement combines Chevron’s technology development expertise with ZL’s commercial capabilities and customer relationships. Chevron will continue developing next-gen advanced surfactant technology for its business, while ZL will commercialize products and services using the technology licensed under this agreement.

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of operations, and grow new energies businesses. More information about Chevron is available at www.chevron.com.

About ZL

ZL Chemicals is a global leader in enhanced oil recovery chemistry, delivering innovative chemical technologies and field services that help operators maximize production, improve operational efficiency, and reduce environmental impact across the oil and gas industry. ZL's integrated portfolio spans EOR chemical solutions — including polymer and surfactant systems — engineered deployment technologies, and full-scope field service, from application design and on-site dosing through long-term injection and treatment programs. By combining in-house R&D, manufacturing, and field execution in a single source, ZL partners with operators worldwide to deliver chemistry that performs where it matters most: at the wellsite. More information about ZL Chemicals is available at www.zlpam.com.

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