View source for Azerbaijan International Operating Company

'''Azerbaijan International Operating Company''' is a [[consortium]] formed to implement the terms of the “Agreement on the Joint Development and Production Sharing for the [[Azeri–Chirag–Gunashli|Azeri]] and [[Azeri–Chirag–Gunashli|Chirag Fields]] and the [[Azeri–Chirag–Gunashli|Deep Water Portion of the Gunashli Field]] in the [[Azerbaijan]] Sector of the [[Caspian Sea]]” signed among [[SOCAR]] and international companies.<ref name=":0">{{Cite web|url=https://www.bp.com/en_az/caspian/operationsprojects/ACG.html|title=Azeri-Chirag-Deepwater Gunashli {{!}} Operations and projects {{!}} BP Caspian|last=|first=|date=|website=bp.com|language=en|access-date=2017-10-31}}</ref>

== History ==
The consortium was established in February 1995 after the [[Production sharing agreement|Production Sharing Agreement]] (PSA) was ratified<ref name=":0" /> by [[National Assembly (Azerbaijan)|Parliament of Azerbaijan]] on December 2, 1994.<ref>{{Cite web|url=https://www.azer.com/aiweb/categories/magazine/62_folder/62_articles/62_socar_aioc.html|title=AIOC Contract|last=|first=|date=|website=www.azer.com|access-date=2017-10-31}}</ref> AIOC initially consisted of 11 companies ([[BP]], [[Amoco]], [[Unocal Corporation|Unocal]], [[Lukoil|LUKoil]], [[Statoil]], [[Exxon]], [[Türkiye Petrolleri Anonim Ortaklığı|TPAO]], [[Pennzoil]], McDermott, Ramco, and Delta Nimir) representing 6 countries ([[United Kingdom|UK]], [[United States|USA]], [[Russia]], [[Norway]], [[Turkey]] and [[Saudi Arabia]]). [[BP]] is the single biggest shareholder.<ref name=":0" />

[[SOCAR]] and co-venturers ([[BP]], Chevron, [[Inpex|INPEX]], [[Statoil]], [[ExxonMobil]], [[Türkiye Petrolleri Anonim Ortaklığı|TP]], [[Itochu|ITOCHU]] and [[Oil and Natural Gas Corporation|ONGC Videsh]]) signed the amended and restated [[Azeri–Chirag–Gunashli|Azeri-Chirag-Deepwater Gunashli]] PSA on September 14, 2017, and extended the development of this field until 2050.<ref name=":1">{{Cite web|url=https://www.bp.com/en/global/corporate/media/press-releases/the-azerbaijan-government-and-co-venturers-sign-amended-and-restated-azeri-chirag-deepwater-gunashli-psa.html|title=The Azerbaijan government and co-venturers sign amended and restated Azeri-Chirag-Deepwater Gunashli PSA {{!}} Press releases {{!}} Media {{!}} BP|last=|first=|date=|website=bp.com|language=en|access-date=2017-10-31}}</ref>

== Overview ==
Azerbaijan International Operating Company is a consortium of currently 10 petroleum companies that have signed extraction contracts with [[Azerbaijan]]. These companies include:<ref>[http://www.bp.com/managedlistingsection.do?categoryId=9007997&contentId=7014999 AIOC partners] {{webarchive |url=https://web.archive.org/web/20070804060850/http://www.bp.com/managedlistingsection.do?categoryId=9007997&contentId=7014999 |date=August 4, 2007 }}, BP corporate website</ref> 
* [[BP]] (UK)
* [[Chevron Corporation|Chevron]] (United States)
* [[Devon Energy]] (USA) 
* [[Equinor]] (Norway)
* [[Türkiye Petrolleri Anonim Ortaklığı]] (TPAO; [[Turkey]])
* [[Amerada Hess]] (USA)
* [[State Oil Company of Azerbaijan]] (SOCAR; Azerbaijan)
* [[ExxonMobil]] (USA)
* [[Inpex]] (Japan) 
* [[Itochu]] (Japan)

The AIOC made significant investment contributing to the construction of the [[South Caucasus Pipeline]], the [[Baku–Tbilisi–Ceyhan pipeline|Baku-Tbilisi-Ceyhan Pipeline]], and are currently discussing construction of a [[Trans-Caspian Oil Pipeline]] between [[Kazakhstan]] and Azerbaijan. Extraction of oil from the [[Azeri-Chirag-Guneshli]] fields and natural gas from [[Shah Deniz]] has been possible through foreign direct investment in this consortium.

According to the latest agreement, the shares will be as follows [[National Assembly (Azerbaijan)|Milli Majlis]] ratifies the contract signed on September 14, 2017:<ref name=":1" />
{| class="wikitable"
!'''[[BP]]'''
!'''30.37%'''
!
!'''[[SOCAR]]'''
!'''25.00%'''
!
!'''[[Chevron Corporation|Chevron]]'''
!'''9.57%'''
|-
|'''[[Inpex|INPEX]]'''
|'''9.31%'''
|
|'''[[Statoil]]'''
|'''7.27%'''
|
|                  '''[[ExxonMobil]]'''
|'''6.79%'''
|-
|'''[[Türkiye Petrolleri Anonim Ortaklığı|TP]]'''
|'''5.73%'''
|
|'''[[Itochu|ITOCHU]]'''
|'''3.65%'''
|
|'''[[Oil and Natural Gas Corporation|ONGC Videsh Limited]] '''
|'''2.31%'''
|}

== See also ==
{{Portal|Azerbaijan|Energy}}
* [[SOCAR]]
* [[Azeri–Chirag–Gunashli|Azeri-Chirag-Gunashli]]
* [[Petroleum industry in Azerbaijan]]

==References==
<references/>

==External links==
* [http://www.bp.com BP corporate website]
* [http://www.azer.com/aiweb/categories/magazine/62_folder/62_articles/62_socar_aioc.html Azerbaijan Oil Contracts], by Azerbaijan International

{{Energy in Azerbaijan}}

[[Category:Oil and gas companies of Azerbaijan]]
[[Category:BP]]


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