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. 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. The Caspian Pipeline 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 the pipeline’s capacity by 670,000 barrels per day. Work was completed on the pipeline expansion in 2017, achieving the design capacity of 1.4 million barrels per day.
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–Wellhead Pressure Management Project (FGP-WPMP). Managed as a single integrated project, the FGP-WPMP is designed to further increase production and maximize the ultimate recovery of resources from the Tengiz Field. Sanctioned in July 2016, the FGP is expected to increase daily crude oil production from Tengiz by approximately 260,000 barrels per day. The WPMP is designed to maintain production levels in existing plants as reservoir pressure declines.