Deal Insight
MOL to acquire Chevron's Azerbaijan oil assets for US$1.57 billion
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*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.
Table of contents
- 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 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
- Upstream assets: Table 2
- Chevron remaining upstream value by region (NPV10 at 1 January 2020)
- MOL entitlement liquids production by country
What's included
This report contains:
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