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IS - Chevron exits major Caspian oil project in $1.6B MOL deal - November 2019
MOL Group struck a $1.57 billion deal to acquire Chevron’s stake in the largest oil field in the Azerbaijan sector of the Caspian Sea. The Hungarian company will acquire 9.57% WI in the BP-operated Azeri-Chirag-Gunashli supergiant oil field, as well as an 8.9% stake in the Baku-Tbilisi-Ceyhan pipeline. MOL said the transaction will add ~20,000 bbl/d to its production in coming years and increase 2P reserves to 360-380 MMboe by YE20. For Chevron, the......
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