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Yokogawa and MAVERICK Technologies Announce New Agreement with Chevron

COLUMBIA, Ill., June 14, 2007 — Yokogawa and MAVERICK Technologies announced today that their joint alliance has been selected as the main automation and control contractor for Chevron’s global refineries in a long-term agreement.

During this time frame, Chevron intends to strengthen operations and reliability at its eight wholly owned refineries by standardizing and modernizing the process automation and control infrastructure.

Yokogawa will provide its innovative control technologies and MAVERICK will provide the majority of the engineering, construction management and installation services through their YMAC alliance (Yokogawa MAVERICK Alliance for Chevron). The YMAC scope includes validation of design specifications, field instrumentation, Integrated Process Control and Safety Systems design and implementation, asset optimization and advanced applications.

This work will be performed under Service/Purchase Orders incorporating the terms of the International Master Agreement signed recently between Chevron U.S.A. Inc. and Yokogawa.

This landmark agreement for the modernization of these eight global Chevron refineries and related process units is one of the single largest programs in the process automation industry for a main automation contract.

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