ONGC Videsh to Acquire 2.72% Interest in ACG Fields Offshore Azerbaijan and 2.36% Interest in Baku-Tbilisi-Ceyhan Pipeline for $1 Billion: The Acquisition will Boost ONGC's Crude Oil Production by Around 3%

GlobalData, September 2012, Pages: 9

ONGC Videsh to Acquire 2.72% Interest in ACG Fields Offshore Azerbaijan and 2.36% Interest in Baku-Tbilisi-Ceyhan Pipeline for $1 Billion: The Acquisition will Boost ONGC’s Crude Oil Production by Around 3% - Deal Analysis from GlobalData

Summary

ONGC Videsh Limited (OVL), a subsidiary of Oil and Natural Gas Corporation Limited (ONGC), agreed to acquire a 2.72% participating interest in the Azeri, Chirag and the deep water portions of the Guneshli fields (ACG), located in offshore Azerbaijan, and a 2.36% interest in the associated Baku-Tbilisi-Ceyhan pipeline (BTC) from Hess Corporation (Hess) for a purchase consideration of $1 billion. The transaction is expected to be completed by the first quarter of 2013, subject to relevant government and regulatory approvals.

Scope

- Rationale behind ONGC acquiring stakes in ACG fields in Caspian Sea
- Rationale behind Hess divesting stake in the ACG fields and BTC pipeline
- Geography Covered- Azerbaijan (Caspian Sea)

Reasons to buy

- Develop a sound understanding of OVL's acquisition plan
- To understand hydrocarbon demand scenario in India
- To know the reasons behind Hess' divesting its stake in favor of ONGC

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1.1 List of Tables
1.2 List of Figures
2 ONGC Videsh to Acquire 2.72% Interest in ACG Fields Offshore Azerbaijan and 2.36% Interest in Baku-Tbilisi-Ceyhan Pipeline for $1 Billion
2.1 Deal Overview
2.2 Deal in Brief
2.3 ONGC Acquires Stake in ACG to Boost its Falling Crude Oil Production
2.4 ACG Fields in Azerbaijan Hold Recoverable Oil Reserves of 5.4 billion barrels
2.5 Hess is Divesting its Stake in ACG Fields as Part of its Strategy of Divesting Matured Assets
2.6 Deal Financials and Valuations
3 Appendix
3.1 Sources
3.2 Methodology
3.3 Contact Us
3.4 Disclaimer

1.1 List of Tables
Table 1: Oil and Gas Industry, OVL, Major Acquisitions Around the World, 2011 to Present
Table 2: Oil and Gas Industry, Hess, Global Major Divestments, January 2012 to Present
Table 3: Companies Involved
Table 4: Financials of the Deal
Table 5: Target Information
Table 6: Acquirer Information
Table 7: Vendor Information

1.2 List of Figures
Figure 1: Oil and Natural Gas Industry, ONGC, Rise in Crude Oil Production Due to the Acquisition of ACG fields, MMboe, 2012
Figure 2: Oil and Natural Gas Industry, ONGC, Production of Oil and Gas, MMboe, 2007–2008 to 2011–2012
Figure 3: Oil and Natural Gas Industry, Azerbaijan, Location of ACG Fields on the Map, 2012
Figure 4: Oil and Natural Gas Industry, Location of BTC Pipelines, 2012

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