BP acquires stake of Devon in “Azeri-Chirag-Guneshli” for $2 billions

BP has bought a stake in the Devon Energy company, part of the Azerbaijani oil project “Azeri-Chirag-Guneshli” for $2 billion, Devon said in a report. That deal will be closed on August 16, the report said, after which BP's stake in the project will rise from 34.1% to 39.8%. The oil project's reserves are estimated at more than 7 billion barrels.