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ID - BP seeking to increase its stake in Azerbaijan’s ACG project - April 2019
BP, the operator of the Azeri-Chirag-Gunashli project in Azerbaijan with 30.4% WI, is considering increasing its stake, with the possible acquisition of interests held by ExxonMobil (6.8%) and Chevron (9.6%). The two companies are evaluating their packages and have not announced an intention to sell, Russian news agency Interfax reported. ACG was discovered in the early 1970s and is the largest oil field in the Azerbaijan sector of the Caspian Basin. BP signed a production sharing agreement in September 1994 with the......
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