exploration & production in eurasia
Chevron is at the forefront of energy development in Eurasia, a region rich in oil and natural gas and linked to world markets by major pipelines.
We are Kazakhstan’s largest private oil producer, holding important stakes in two of the nation’s biggest oil-producing fields – Tengiz and Karachaganak. We also hold strategic assets in Azerbaijan through our interests in the Azerbaijan International Operating Company (AIOC). In addition, Chevron has business development and transportation activities in Russia, Georgia and Turkey.
expanding our footprint
Our involvement in the region began in 1993, when we signed an agreement with the Republic of Kazakhstan that established the joint venture company Tengizchevroil (TCO). Under this agreement, we have developed the Tengiz Field, the world’s deepest supergiant oil field, and the nearby Korolev Field. Since then, we have increased production 27-fold at Tengiz. The field’s crude oil production capacity grew by about 80 percent after we completed the Sour Gas Injection Project and the Second Generation Plant in 2008.
We made a second leap forward in Kazakhstan in 1996, when we became part of a consortium to begin development of the Karachaganak Field, one of the world’s largest gas and condensate fields. With our partners, we applied industry-leading technology to tap into one of the world’s most complex reservoirs.
delivering products to market
Chevron also holds a 15 percent share in the Caspian Pipeline Consortium, which connects the Tengiz and Karachaganak fields with the Russian Black Sea port of Novorossiysk. In 2011, we and our partners began a $5.4 billion project to expand pipeline capacity by 670,000 barrels per day. The expansion is progressing in stages and is expected to reach a design capacity of 1.4 million barrels per day in mid-2017.
investing in Azerbaijan
We’re one of the largest investors in Azerbaijan through our interests in the AIOC’s Azeri-Chirag-Gunashli project in the Caspian Sea and in the Baku-Tbilisi-Ceyhan pipeline, which transports oil from the landlocked Caspian oil fields to the Mediterranean. We also support the joint venture with technical expertise in areas such as reservoir management, well completions, pipeline construction and subsea facilities.
looking to the future
We’re building on our partnership with Kazakhstan by developing the Future Growth Project (FGP) to further expand the Tengiz Field. Using the sour gas injection technology that proved so successful during TCO’s last expansion in 2008, the FGP is designed to increase the field’s production capacity by about 260,000 barrels per day. Plans call for executing the FGP simultaneously with the Wellhead Pressure Management Project to maintain the volume and pressure of sour crude oil delivered to the existing Tengiz crude oil processing plants.