Tuesday, December 18, 2018

Chevron to Sell Stakes in Azeri Field, Pipeline

December 4, 2018

(File photo: BP)
(File photo: BP)

U.S. oil and gas company Chevron has decided to launch the sale of its stake in Azerbaijan's largest oil field as well as the Baku-Tbilisi-Ceyhan (BTC) pipeline, it said in a statement on Tuesday.

"Chevron regularly reviews its global portfolio of assets to ensure alignment with its long-term priorities," it said.

"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."

Earlier on Tuesday, industry sources told Reuters that rival Exxon Mobil is also seeking to sell its 6.8 percent stake in the ACG project.


(Reporting by Ron Bousso; Editing by Kirsten Donovan)

Current News

Saipem Nearing Deal for Russian LNG Work

Saipem Nearing Deal for Russian LNG Work

Rowan Scores Guyana Contract

CNOOC Plans Exploration Spending Boost

CNOOC Plans Exploration Spending Boost

DNO Buys More Faroe Shares

DNO Buys More Faroe Shares

Tech, New Finance Model Trimming Drill Risk

Tech, New Finance Model Trimming Drill Risk

Indonesia Approves Eni’s Merakes Project

Indonesia Approves Eni’s Merakes Project

Triton Knoll Announces Decommissioning

Triton Knoll Announces Decommissioning

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week