Chevron Operations in Azerbaijan

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Chevron began operating in Azerbaijan in 1994, when the company gained a stake in the Azerbaijan International Operating Company (AIOC) (an 11.3% interest as of 2012). This move also made Chevron a partner in the Baku-Tbilisi-Ceyhan Pipeline (BTC) (8.9% as of 2012).[1]

In August 1997, Chevron signed a Production Sharing agreement (PSA) with SOCAR (50% Chevron / 30% SOCAR) to explore the offshore Abseron block. French Total was later brought into the consortium for a 20 percent share.[2] However in 2001 Chevron drilled down to 6,500 metres at the field without finding commercially viable reserves.[3]

As of April 2012, around 75 percent of Chevron's staff in the country were Azerbaijani.[4] The company operates under its subsidiary Chevron Khazar Ltd.[5]



References

  1. AzerbaijanChevron, retrieved 18 March 2013.
  2. Absheron FieldAzerbaijan International, Autumn 1997.
  3. Azerbaijan: Bp Executive Bullish On Second Phase Energy Sector DevelopmentWikileaks, 26 December 2007.
  4. AzerbaijanChevron, retrieved 18 March 2013.
  5. Azerbaijan Fact SheetChevron, April 2012.