Chevron Corp. (CVX) said Tuesday its production would grow about 1% through 2014 and 4% to 5% from 2014 to 2017.

In prepared statements released before the Chevron's analyst meeting, the San Ramon Calf.-based company also said it expects production will grow about 3% after 2017.

In addition, the company said the Royal Dutch Shell PLC (RDSA, RDSA.LN)-operated Perdido project in the ultra deepwaters of the Gulf of Mexico is expected to start production in the first half of this year. A final investment decision on the Jack/St. Malo and Big Foot projects, also in the Gulf of Mexico , is expected this year, while a decision for the LNG project Wheatstone in Australia is expected in 2011.

During the meeting with analysts, a Chevron executive said staff-reduction, asset-sale and other reorganization measures are expected to increase the company's refining profits by 7% and that returns would go back to double digits by 2012.

Chevron said Tuesday it is eliminating 2,000 positions this year and it expects to make further staff cuts in 2011 as part of a previously announced restructuring in its refining and marketing operations that will focus this segment in the U.S. and Asia .

Chevron said it is also planning to ask for bids for some assets in Europe , including the Pembroke Refinery in the U.K. It's also planning to put up for sale downstream assets in the Caribbean and select Central American countries.

Chevron, the second-largest U.S. oil company by market value after Exxon Mobil Corp. (XOM), said it is also reviewing its downstream operations in Hawaii and Africa , outside South Africa .

A company's executive said Chevron has already received signs of interest for its Pembroke refinery.
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