...

SOCAR & partners may buy stake of ExxonMobil, Chevron in ACG (UPDATE)

Oil&Gas Materials 19 April 2019 13:03 (UTC +04:00)
Azerbaijan’s state oil company SOCAR and partners on the project for the development of the Azeri-Chirag-Guneshli (ACG) block of fields plan to participate in a tender to buy a stake of ExxonMobil and Chevron

Details added (first version posted on 12:51)

Baku, Azerbaijan, April 19

By Sara Israfilbayova - Trend:

Azerbaijan’s state oil company SOCAR and partners on the project for the development of the Azeri-Chirag-Guneshli (ACG) block of fields plan to participate in a tender to buy a stake of ExxonMobil and Chevron, President of Azerbaijan’s state oil company SOCAR Rovnag Abdullayev told reporters in Baku, Trend reports.

Earlier, ExxonMobil and Chevron announced that they were planning to sell their shares in the ACG.

The contract for developing the ACG field was signed in 1994. A ceremony to sign a new contract on development of the ACG block of oil and gas fields was held in Baku Sept. 14, 2017.

The new ACG participating interests are as follows: BP - 30.37 percent; AzACG (SOCAR) - 25 percent; Chevron - 9.57 percent; INPEX - 9.31 percent; Statoil - 7.27 percent; ExxonMobil - 6.79 percent; TP - 5.73 percent; ITOCHU - 3.65 percent; ONGC Videsh Limited (OVL) - 2.31 percent.

---

Follow the author on Twitter: @IsrafilbekovaS

Tags:
Latest

Latest