Investment Summary

Hess Invests In Azeri-Chirag-Gunashli Oil Field Development Project

On July 17, 2000, Hess invested in oil/gas exploration company Azeri-Chirag-Gunashli Oil Field Development Project

Investment Highlights
  • This is Hess’ 3rd transaction in the Oil/Gas Exploration sector.
  • This is Hess’ 1st transaction in Azerbaijan.
Investment Fate
  • Azeri-Chirag-Gunashli Oil Field Development Project was sold to a consortium of strategic buyers in 2013.

Investment Summary

Date 2000-07-17
Target Azeri-Chirag-Gunashli Oil Field Development Project
Sector Oil/Gas Exploration
Investor(s) Hess
Deal Type Stake Purchase

Target

Azeri-Chirag-Gunashli Oil Field Development Project

Azerbaijan
Azeri-Chirag-Gunashli Oil Field Development Project comprises oil and gas reserves and contains 5.4 billion barrels of recoverable oil with total output of million barrels a day.

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Investor(S) 1

Investor

Hess

New York, New York, United States

Category Company
Founded 1920
Sector Oil/Gas Exploration
Employees1,545
Revenue 11.3B USD (2022)
DESCRIPTION

Hess is a global integrated energy company engaged in the exploration, production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products. Hess was founded in 1920 and is based in New York, New York.


DEAL STATS #
Overall 4 of 11
Sector: Oil/Gas Exploration M&A 3 of 8
Type: Stake Purchase M&A Deals 2 of 2
Country: Azerbaijan M&A 1 of 1
Year: 2000 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-04-17 SONAHESS

Algeria

SONAHESS engages in the exploration and production of oil and gas. It owns and operates the Gassi El Agreb redevelopment project in central Algeria.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-29 Gibbs Oil Company 53 Retail Outlets

United States

Gibbs Oil Company 53 operated retail outlets located primarily in the Boston metropolitan area and southern New Hampshire . The sites, most of which include convenience stores.

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