MOL, a Hungarian multinational oil and gas company, completed the acquisition of a 9.57% stake in Azeri-Chirag-Gunashli oil field, and an 8.9% stake in the Baku-Tbilisi-Ceyhan pipeline, for $1.57bn. “This major USD 1.57bn transaction is a significant milestone in building our international E&P portfolio, in one of our core regions, the CIS, where we will team up with world-class partners. Following the closing of the deal, around half of our production will come from outside the CEE region, giving us a healthy balance. With these new barrels we are also strengthening our resilient, integrated business model, which will continue to generate robust cash flow to finance the MOL 2030 transformational projects as well as rising dividends to our shareholders,” Zsolt Hernádi, MOL Group’s Chairman and CEO.