MOL signed an agreement with Chevron Global Ventures to acquire its stake in the Azeri-Chirag-Gunashli (“ACG”) oil field and the relating infrastructure in Azerbaijan. *
Deloitte acted as MOL’s financial and tax advisor in the transaction.
* The transaction is subject to government and regulatory approvals and is expected to close in Q2 2020.
"The ACG field located in the Caspian Sea is one of the world's largest offshore oil fields. Following the closing of the deal, MOL will not just acquire share in a supergiant upstream producing asset but will join the partnership of world-class oil companies like BP or Equinor. Due to the location of the target, the engagement required the strong cooperation of the Hungarian and the Azeri Deloitte offices in course of the financial and tax due diligence. We are proud that Deloitte could contribute to the success of MOL in the course of this landmark upstream transaction."