National Extractive Industry Transparency Initiative

BP is the operator of major projects in the Azerbaijan sector of the Caspian Sea, and in the trans-Caucasus region. These comprise the largest foreign direct investment to date in Azerbaijan, Georgia and Turkey. BP Azerbaijan Strategic Performance Unit is a BP organisational unit, operating a number of major upstream and midstream projects in Azerbaijan, Georgia, and Turkey.

ConocoPhillips’ presence in Azerbaijan is comprised of its interest in the Baku-Tbilisi-Ceyhan (BTC) Pipeline. This 1,100-mile pipeline, completed in 2006, transports crude oil from the Caspian Region through Azerbaijan, Georgia and Turkey for tanker loadings at the Mediterranean port of Ceyhan. The pipeline’s nameplate capacity is 1 MMBD, and ConocoPhillips has a net capacity of 25 MBD.

The history of ITOCHU Corporation (hereinafter "ITOCHU") dates back to 1858 when the Company's founder Chubei Itoh commenced linen trading operations. Since then, ITOCHU has evolved and grown over 150 years into a sogo shosha, engaging in domestic trading, import/export, and overseas trading of various products such as textiles, machinery, information and communications-related products, metals, products related to oil and other energy sources. ITOCHU Corporation produces crude oil in the Azerbaijan sector of the Caspian Sea at the Deep Water Gunashli complex, in the Azeri-Chirag-Gunashli (ACG) field being developed in part through the subsidiary, ITOCHU Oil Exploration (Azerbaijan) Inc.