Statoil Sells Shah Deniz Stake to Petronas

Transaction amounts to 2.2 billion dollars

Baku. 13 October. REPORT.AZ/ The Norwegian oil company Statoil sold its share (15.5%) to the Malaysian company Petronas in the "Shah Deniz" project. Report informs referring to the Statoil website, the transaction value is 2.2 billion dollars. According to the vice-president of the Norwegian company Lars Christian Bacher, Statoil remains committed to its business in Azerbaijan, which continues to play an important role in the international portfolio of the company.

The operator of the project is British BP (28.8% stake). Followed by the Turkish TPAO (19%), Azerbaijani SOCAR (16,7%), the Russian LUKoil (10%) and Iranian NICO (10%).

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