Caspian International Petroleum Company
Caspian International Petroleum Company (CIPCO) (Azerbaijani: Xəzər Beynəlxalq Neft Şirkəti) was a joint operating company established by production shareholding companies for exploration, development and production sharing of the Karabakh field in the Caspian Sea. It was incorporated on 4 June 1996. The company was led by President James A. Tilley, who had been the President of Pennzoil Caspian.
Shareholders of CIPCO had the following stakes in Karabakh field:
The company estimated an investment of up to $2 billion, if the feasibility studies proved the expectations for reserves. CIPCO spent nearly $100 million on feasibility studies. In January, the consortium management announced the project was not commercially feasible and as of 23 February 1999 it stopped its operations and was dissolved.
- Karabakh (Oil and Gas field)
- Baku–Tbilisi–Ceyhan pipeline
- Sangachal Terminal
- South Caucasus Pipeline
- Baku-Supsa pipeline
- Baku–Novorossiysk pipeline
- "Caspian International Petroleum Company. Formed for Exploration, Development of Karabakh Prospect". Azerbaijan International. Autumn 1996. Retrieved 2009-12-08.
- James Tilley (Winter 1996). "CIPCO. Developing the Karabakh Prospect". Azerbaijan International. Retrieved 2009-12-08.
- НЕФТЕГАЗОДОБЫЧА В СТРАНАХ СНГ
- "CIPCO dissolved" 4 (4). Alexander's Gas & Oil Connections. 1999-03-03. Retrieved 2009-12-08.