Chevron to invest $1 billion in India, build new tech hub in Bengaluru

Chevron, the American energy giant, is planning to invest $1 billion in India for a new technology hub in Bengaluru, the Times of India reported on Wednesday, August 22.

The cutting-edge technology centre called the Chevron Engineering and Innovation Excellence Centre, or “The Engine,” is a milestone for the $200-billion revenue company. The 145-year-old company aims to develop affordable and reliable energy products for the world that are also cleaner for the environment.

"This is a unique commitment in Chevron's history to build a world-class technology hub that will help deliver the innovations needed for the global energy transition," Akshay Sahni, the incoming head of Chevron India, told the newspaper.

He added that the company wants to provide the employees with meaningful work that can allow them to be a part of their aim to generate energy at a low cost while also building a future with a lower carbon footprint.

Many competitors of Chevron including Shell, BP, Saudi Aramco and Sabic have already established technology centres in India.

The $1 billion dollar investment by Chevron will be made over the next five to six years, the report said, adding that the company aims to hire 600 employees in several fields including mechanical, civil, petroleum and computer science by the end of 2025.

The company is finalising a long-term lease for its office in Bellandur, which is Bengaluru’s IT corridor. Facilities for the time being have already been arranged, TOI reported.

The Engine will act as a global centre to support Chevron’s operations by providing cutting-edge digital technology solutions. Sahni told the publication that the company’s focus will be on building digital labs in fields such as artificial intelligence (AI) and neural networks.

These labs will engage in many activities, like making use of AI and machine learning (ML) to learn about subsurface geology, essential for finding prime locations for carbon storage as well as safer and more efficient drilling sites. They will also engage in constructing digital copies of complex industrial units. These digital twins will help in monitoring and transforming the global functioning of the company, leading to a more reliable supply chain, the report further added.