ent. The company is pursuing selected opportunities for divestment and farm-down in Nigeria. In 2015, the company’s net oil-equivalent production in Nigeria averaged 270,000 barrels per day, composed of 224,000 barrels of crude oil, 246 million cubic feet of natural gas and 6,000 barrels of liquefied petroleum gas. The company operates and holds a 67.3 percent interest in the Agbami Field, located in deepwater Oil Mining Lease (OML) 127 and OML 128. The company holds a 16.6 percent nonoperated working interest in the unitized area. In deepwater exploration, the company operates and holds a 55 percent interest in the deepwater Nsiko discovery in OML 140 following completion of a farm-down in second quarter 2015. The company also holds a 30 percent nonoperated working interest in OML 138, which includes the Usan Field. In 2015, an exploration well was drilled in the Usan area resulting in a crude oil discovery. The company is the operator of the 33,000-barrel-per-day gas-to-liquids facility at Escravos. The facility is designed to process 325 million cubic feet per day of natural gas. With a 36.7 percent interest, the company is the major shareholder in the West African Gas Pipeline Company Limited affiliate, which owns and operates the 421-mile West African Gas Pipeline. The pipeline supplies Nigerian natural gas to customers in Benin, Ghana and Togo for industrial applications and power generation and has the capacity to transport 170 million cubic feet per day. South Africa: In 2015, the company discontinued evaluating shale gas exploration opportunities in the Karoo Basin in South Africa. Asia In Asia, the company engages in upstream activities in Azerbaijan, Bangladesh, China, Indonesia, Kazakhstan, the Kurdistan Region of Iraq, Myanmar, the Partitioned Zone located between Saudi Arabia and Kuwait, the Philippines, Russia, and Thailand. During 2015, net oil-equivalent production averaged 1,089,000 barrels per day. Azerbaijan: The company holds an 11.3 percent nonoperated working interest in the Azerbaijan International Operating Company (AIOC) and the crude oil production from the Azeri-Chirag-Gunashli (ACG) fields. AIOC operations are conducted under a PSC that expires in 2024. The company also has an 8.9 percent interest in the Baku-Tbilisi-Ceyhan (BTC) Pipeline affiliate, which transports the majority of ACG production from Baku, Azerbaijan, through Georgia to Mediterranean deepwater port facilities at Ceyhan, Turkey. The BTC Pipeline has a capacity of 1 million barrels per day. Kazakhstan: The company has a 50 percent interest in the Tengizchevroil (TCO) affiliate and an 18 percent nonoperated working interest in the Karachaganak Field. TCO is developing the Tengiz and Korolev crude oil fields in western Kazakhstan under a concession agreement that expires in 2033. The Karachaganak Field is located in northwest Kazakhstan, and operations are conducted under a PSC that expires in 2038. Kazakhstan/Russia: The company has a 15 percent interest in the CPC affiliate. Bangladesh: The company operates and holds a 100 percent interest in Block 12 (Bibiyana Field) and Blocks 13 and 14 (Jalalabad and Moulavi Bazar fields). The rights to produce from Jalalabad expire in 2024, from Moulavi Bazar in 2028 and from Bibiyana in 2034. China: The company has operated and nonoperated working interests in various areas in China. The company operates the 49 percent-owned Chuandongbei Project, located onshore in the Sichuan Basin. The PSC expires in 2038. The company completed one exploration well in Block 15/10 in the South China Sea in May 2015. The company also has nonoperated working interests of 24.5 percent in the QHD 32-6 Field and 16.2 percent in Block 11/19 in the Bohai Bay, and 32.7 percent in Block 16/19 in the Pearl River Mouth Basin. The PSCs for these producing assets expire between 2022 and 2028. Indonesia: The company holds working interests through various PSCs in Indonesia. In Sumatra, the company holds a 100 percent-owned and operated interest in the Rokan PSC. The company also operates four PSCs in the Kutei Basin, located offshore eastern Kalimantan. These interests ra
chevron corp (CVX:New York Consolidated)
6001 Bollinger Canyon Road
San Ramon, CA 94583
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