SOCAR seeks some of BP`s ACG stake
BAKU – Azerbaijan’s state energy firm SOCAR has said it wants to buy 1.6-1.8 percent of the country’s giant Azeri-Chirag-Gunashli (ACG) oil field in the Caspian Sea from its partner in the project, British oil major BP.
"Devon Energy’s share has been proportionately divided among other shareholders. SOCAR is seeking to buy half of Devon Energy’s share that went to BP," SOCAR President Rovnag Abdullayev told reporters in Baku.
ACG shareholders are: BP (operator - 37.4%), Chevron (11.3%), SOCAR (10%), INPEX (11%), Statoil (8.6%), ExxonMobil (8%), TPAO (6.7%), ITOCHU (4.3%) and Hess (2.7%).
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