The largest US oil company Exxon Mobil is preparing to leave a major oil and gas project in Azerbaijan, Reuters reported. 

According to the source, Exxon hopes to raise up to $2 billion from the sale of its 6.8% in the Azeri-Chirag-Gunashli (ACG) field in the Caspian Sea.

Exxon Mobil spokesperson Julie King rejected to comment on the issue. “We don’t comment on market rumors or speculation.”

A spokesman for Azerbaijan’s state energy company Socar said: “The report is about Exxon and there is no need for Socar to get involved.”