Chevron Sells Azerbaijan Pipeline Assets
(P&GJ) — Chevron announced that its affiliate companies have sold their non-operating interests in the Azeri-Chirag-Deepwater Gunashli (ACG) oil fields, including interests in two pipelines, to MOL Hungarian Oil and Gas for $1.57 billion.
The sale includes interests in both the Western Export Route Pipeline and the Baku-Tbilisi-Ceyhan (BTC) oil pipeline located in Azerbaijan.
Chevron Global Ventures Ltd. has sold its 9.57% interest in ACG, which had a daily net production of 20,000 barrels of oil equivalent per day in 2019. In addition, Chevron BTC Pipeline, Ltd. has completed the sale of its 8.9% interest in BTC.
In addition to Chevron’s interest in ACG, the remaining interest holders are: BP Exploration (Caspian Sea) Limited, the operator, 30.37%; SOCAR, 25%; Inpex Southwest Caspian Sea, Ltd., 9.31%; Equinor Apsheron a.s. 7.27%; Exxon Azerbaijan Limited 6.79%; Turkiye Petrolleri A.O., 5.73%; Itochu Oil Exploration (Azerbaijan) Inc. 3.65%; ONGC Videsh Limited 2.31%.
Other shareholders in BTC Pipeline include BP Pipelines Limited, the operator, with 30.10%; SOCAR, (25%); Equinor BTC Caspian AS, 8.71%; Turkish Petroleum BTC Ltd., 6.53%; ENI BTC Limited, 5%; TOTAL (BTC) B.V., 5%; ITOCHU Oil Exploration (BTC) Inc. 3.40%; INPEX BTC Pipeline, 2.50%; Exxon Azerbaijan Limited, 2.5%; ONGC BTC Limited, 2.36%.
Related News
Related News
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- Court Ruling Allows MVP’s $500 Million Southgate Pipeline Extension to Proceed
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- LNG Canada Start-Up Fails to Lift Gas Prices Amid Supply Glut
- TC Energy’s North Baja Pipeline Expansion Brings Mexico Closer to LNG Exports
Comments