Baku, Azerbaijan, March 18
By Leman Zeynalova - Trend:
Negotiations on the purchase of the shares of US companies Exxonmobil and Chevron in the project to develop a block of Azeri-Chirag-Gunashli oil and gas fields (ACG) in Azerbaijan have not yet begun, Elshad Nasirov, vice president for marketing and investment at Azerbaijan’s state oil company SOCAR, said on the sidelines of the 13th meeting of the OPEC/non-OPEC Joint Ministerial Monitoring Committee (JMMC) in Baku, Trend reports March 18.
Nasirov noted that all members of the ACG consortium are interested in buying the American companies' shares.
"They can all be all partners. Members of the ACG consortium have the right to repeat the price offer. Negotiations as such have not yet begun. The process is multi-level. First, someone makes an offer. Exxonmobil and Chevron request companies inside the consortium and outside the consortium, evaluate the offers, after that, having received a price offer, they evaluate the necessity and expediency of the exit. It is not a fact that Exxonmobil and Chevron will sell their shares. They simply announced their desire and willingness to sell them. It all comes down to the price offer," he 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.
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