Baku, Azerbaijan, July 29
By Leman Zeynalova – Trend:
The process of selling the assets of the US Chevron company in Azerbaijan’s Azeri-Chirag-Gunashli (ACG) and Baku-Tbilisi-Ceyhan (BTC) projects is expected to take several months, the company told Trend.
“Chevron regularly reviews its global portfolio of assets to ensure alignment with its long-term priorities. As part of this review, we have decided to initiate the process of marketing, with a view to a potential sale, of our Chevron affiliate interests in the Azeri Chirag and Deep Water Gunashli (ACG) project and the Baku-Tbilisi-Ceyhan (BTC) Pipeline, Throughout this process (which is expected to take several months) our Chevron affiliates will continue to execute our business plan and operate safely,” said the company.
Another US company ExxonMobil, which has also decided to sell its assets in ACG, told Trend that it is testing market interest for its non-operated producing assets in Azerbaijan following interest expressed by third parties to acquire the company’s assets.
“We continually review our assets for their contribution toward meeting the company’s operating needs, financial objectives and their potential value to others,” said the company.
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.
The BTC Co. shareholders are: BP (30.1 percent); AzBTC (25.00 percent); Chevron (8.90 percent); Equinor (8.71 percent); TPAO (6.53 percent); Eni (5.00 percent); Total (5.00 percent), ITOCHU (3.40 percent); INPEX (2.50 percent), ExxonMobil (2.50 percent) and ONGC (BTC) Limited (2.36 percent).
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