Deal Insight
MOL to acquire Chevron's Azerbaijan oil assets for US$1.57 billion
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 10 images and tables including:
- 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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