Name: MOL to acquire Chevron's Azerbaijan oil assets for US$1.57 billion
Brand: Wood Mackenzie
SKU: 120017
Price: 1650 USD
Availability: OnlineOnly
Author: Wood Mackenzie

Deal Insight 11 November 2019

This report is currently unavailable

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

MOL has announced the acquisition of Chevron's stakes in the super-giant Azeri Chirag Guneshli (ACG) oil field and Baku-Tbilisi-Ceyhan (BTC) pipeline in Azerbaijan. The deal is priced at US$1.57 billion. The acquisition will be the largest in MOL's history. The long-life, low-cost production will be transformational for its upstream portfolio. For Chevron, it is the end of a long history in the south Caspian that started with the signing of the ACG PSC – the so-called Contract of the Century – back in 1994.

Executive summary
Transaction details
Upstream assets
- Azeri Chirag Guneshli (9.57%)
- Baku-Tbilisi-Ceyhan oil pipeline (8.90%)
Deal analysis
Upsides and risks
- Upsides
- Risks
Strategic rationale
- Chevron
- MOL
- Azerbaijani state
Oil & gas pricing and assumptions

Tables and charts

This report includes the following images and tables:

Executive summary: Table 1Deal analysis: Table 1Deal analysis: Table 2

Deal analysis: Table 3Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2Upstream assets: Table 1Upstream assets: Table 2Chevron remaining upstream value by region (NPV10 at 1 January 2020)MOL entitlement liquids production by country