American energy major Chevron is planning to invest Rs83bn ($989m) in Karnataka, India, over the next five to six years.
This investment is set to establish a new research and development (R&D) hub in Bengaluru, making it the company’s largest technology centre outside the US.
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In a post on X, Karnataka Commerce & Industries, and Infrastructure Minister MB Patil said: “Chevron’s proposed new R&D Hub in Bengaluru, called the ‘Engineering & Innovation Excellence Center (Engine),’ will be a major addition to our growing #MegaGCC ecosystem, creating 600 engineering jobs and driving innovation.”
Separately, Akshay Sahni, the incoming head of Chevron India, in conversation with the Times of India, elaborated on the company’s strategy.
He stated that Chevron aims to hire employees across various disciplines, including mechanical, civil, petroleum, and computer science, by the end of 2025.
The investment will be distributed over a period of five to six years.
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By GlobalDataSahni said: “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.
“We want to give employees here meaningful work that allows them to be part of solving the incredible challenge of providing affordable energy while building a lower carbon future.”
Chevron is currently finalising a long-term lease for office space in Bellandur, Bengaluru’s prominent IT corridor, and has already secured temporary facilities to commence operations.
The Engine will function as a global solutions centre, enhancing Chevron’s operations worldwide through work in digital technologies.
Sahni said: “Our focus will be on establishing digital labs, particularly in areas like artificial intelligence and neural networks.”
The labs will undertake diverse activities, including applying AI and machine learning to analyse subsurface geology.
This will assist in identifying optimal locations for carbon storage and safer, more efficient drilling sites.
Additionally, the construction of digital twins for industrial facilities is anticipated to improve monitoring and optimisation of Chevron’s global operations, contributing to a more reliable supply chain.
Furthermore, robotics will be a major focus for The Engine.
The news comes after Chevron reported a 26.3% dip in its second-quarter 2024 net income due to lower margins.
