ONGC confirmed as ACG fields partner

Offshore staff

NEW YORK – Hess (NYSE: HES) has completed the sale of its 2.72% interest in the Azeri, Chirag, and Guneshli fields (ACG) offshore Azerbaijan to ONGC Videsh.

The deal, which also takes in Hess’ 2.36% stake in the associated BTC oil export pipeline, is valued at $1 billion.

The BP-operated ACG fields are 100 km (62 mi) east of Baku in the Caspian Sea, and have been in production since 1997.

4/1/2013

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...