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
