ExxonMobil mulls major Azerbaijan sale: report

Azerbaijan

LONDON, December 4, 2018 – ExxonMobil is considering selling its interest in Azeri-Chirag-Gunashli field in the Caspian Sea offshore Azerbaijan, international media reported on Tuesday.

The super-major is hoping to receive around USD 2 billion for its 6.8% share in the field, Azerbaijan’s largest, Reuters reported, citing anonymous sources. ExxonMobil declined to comment on the report.

The super-major is one of nine shareholders in the massive project, dubbed “the contract of the century” when it was first signed in 1994. The field is being developed by operator BP (30.4%) and remaining partners SOCAR (25%), Chevron (9.6%), Inpex (9.3%), Equinor (7.3%), Turkish Petroleum (5.7%), Itochu (3.7%) and ONGC (2.3%).

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