Date: 07 February 2019, 18:39, READ:
Exxon Mobil Corp. and Chevron Corp. are seeing what price they might get to sell out of the Azeri-Chirag-Guneshli oil project as they eye expansion elsewhere, he said, Trend reports.
"We have discussed this with both Exxon Mobil and Chevron,” said Elshad Nasirov.
"Everybody” at ACG is considering buying the shares held by Exxon and Chevron, but it will depend on the outcome of "market testing” and the price that emerges, Nasirov said.
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.