MOL Acquires Chevron's Interests in the ACG Oil Field and BTC Pipeline

Updated 1 year 1 month ago

Chevron Global Ventures has sold its 9.57% interest in the Azeri-Chirag-Deepwater Gunashli (ACG) oil fields (including interests in the Western Export Route Pipeline) and a 8.9% interest in the Baku-Tbilisi-Ceyhan (BTC) oil pipeline in Azerbaijan to MOL Hungarian Oil & Gas for a consideration of $1.57 billion. ACG has a net daily production of 20,000 boe/d, and the transaction closed in April 2020.