ONGC acquires Equior stake in Azerbaijan oilfields for USD 60 mn

ONGC Videsh will acquire Equinor's 0.615% stake in ACG oil field and 0.737% in BTC pipeline for $60 million, adding to its 2.31% ACG and 2.36% BTC holdings. SOCAR buys Equinor’s remaining assets. BP, ExxonMobil, Japanese firms are partners. BTC links Caspian's Sangachal terminal to Ceyhan terminal. ACG extended till 2049. OVL in 32 projects producing 200,000 barrels daily.