SS: State-run ONGC Videsh (OVL) said on Friday said it has signed a definitive sale purchase agreement for directly acquiring 0.615 per cent participating interest (PI) in Offshore Azeri Chirag Gunashli (ACG) oil field in Azerbaijan from Equinor.
The agreement also includes acquiring 0.73 per cent share of the Baku Tbilisi Ceyhan (BTC) pipeline company through its wholly-owned subsidiary ONGC BTC, the company, a subsidiary of E&P major ONGC, said.
The acquisitions are expected to be completed in the upcoming months. Total investment for these acquisitions would be up to $60 million. The acquisitions are in addition to ONGC Videsh’s existing 2.31 per cent PI in the ACG field and 2.36 per cent shareholding in the BTC pipeline, it added.
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SS: State-run ONGC Videsh (OVL) said on Friday said it has signed a definitive sale purchase agreement for directly acquiring 0.615 per cent participating interest (PI) in Offshore Azeri Chirag Gunashli (ACG) oil field in Azerbaijan from Equinor.
The agreement also includes acquiring 0.73 per cent share of the Baku Tbilisi Ceyhan (BTC) pipeline company through its wholly-owned subsidiary ONGC BTC, the company, a subsidiary of E&P major ONGC, said.
The acquisitions are expected to be completed in the upcoming months. Total investment for these acquisitions would be up to $60 million. The acquisitions are in addition to ONGC Videsh’s existing 2.31 per cent PI in the ACG field and 2.36 per cent shareholding in the BTC pipeline, it added.