Chevron Operations in Azerbaijan

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).

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. However in 2001 Chevron drilled down to 6,500 metres at the field without finding commercially viable reserves.

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

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