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Statoil completes sale of Shah Deniz share

April 30, 2015

On 30 April 2015, Statoil completed their sale of 15.5% share in Shah Deniz to PETRONAS, announced previously on 13 October 2014.

The sale involved the transfer of Statoil’s 15.5% participating interest in the Shah Deniz production sharing agreement, 15.5% share in the South Caucasus Pipeline (SCPC), 15.5% share in the SCPC holding company, and 12.4% share in the Azerbaijan Gas Supply Company (AGSC).

Following this transaction the State Oil Company of Azerbaijan, SOCAR, will assume operatorship of AGSC and commercial operatorship of SCPC as of 1 May 2015, which have both previously been held by Statoil.

The Shah Deniz in the Caspian Sea. Image from Statoil.



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