what we do - oil and gas segment

Keeping pace with our rapidly changing global business environment requires a sound business strategy that allows Oxy to move fast as opportunities arise and markets fluctuate.

Oxy is adding reserves at a pace well ahead of its production through a strategic mix of enhanced oil recovery (EOR), exploration, and acquisitions. The strategy is driven by opportunity and balanced by strict financial discipline to ensure Oxy's finding and development costs remain among the lowest in the industry.

Our three-part approach:

• Continue to add commercial reserves in and around our core assets in the United States, Middle East and Latin America through a combination of focused development and exploration programs.
• Pursue commercial opportunities with host governments in core areas to enhance the development of mature fields with large volumes of remaining oil in place by applying appropriate technology and innovative reservoir management practices.
• Maintain a disciplined approach in buying and selling assets at attractive prices.

Teamwork

Our geoscientists, engineers and financial professionals combine their expertise with fast-track decision-making to provide a solid foundation for continued growth.

Our opportunity-driven model, balanced by strict financial discipline, and an entrepreneurial structure allow us to react quickly to new opportunities and keep pace with the competition.

Strategic Focus

In implementing our strategy, we have significantly strengthened our operations in the United States, Middle East and Latin America. By concentrating on large assets in these core areas, we use economies of scale to reduce operating costs and improve margins.

Over the past six years, we took a series of steps to strengthen our position and enhance overall performance by divesting smaller, widely-dispersed assets and acquiring several large assets in California and the Permian Basin (Texas, Kansas, New Mexico and Oklahoma).

Outside the United States, Occidental's operations are concentrated in Latin America and the Middle East.

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