ACG FID delayed as partners plan to pull out of the asset

摘要

A consortium led by UK superma-jor BP has had to postpone a final investment decision on the next stage of development at the Aze-ri-Chirag-Guneshli (ACG) oilfields off Azerbaijan as two partners in the Caspian Sea project draw up plans to exit the asset, writes Kama Mustafayeva. According to sources involved into the process, US supermajors ExxonMobil and Chevron, which last year revealed plans to sell their stakes in ACG, suggested to other field partners that the project sanction be postponed until they finalise deals with buyers. Market sources said Japan's Inpex is considered the most likely buyer but this could not be confirmed. Senior officials from Azerbaijan's state-owned Socar agreed that Inpex was a leading contender but added that other "interested parties" were in the running.