Bank Of Baku

Statoil sells 15.5% share in Shah Deniz to PETRONAS

Statoil sells 15.5% share in Shah Deniz to PETRONAS
# 13 October 2014 09:01 (UTC +04:00)

The transaction value is USD 2.25 billion.

 

“Statoil has created significant value by participating in the development of this asset over the years and we are pleased to announce this deal with PETRONAS. The divestment optimizes our portfolio and strengthens our financial flexibility to prioritise industrial development and high-value growth,” says Lars Christian Bacher, executive vice president for Development and Production International in Statoil.

 

The Shah Deniz field is operated by BP (28.8%) and the other partners are TPAO (19%), SOCAR (16.7%), Lukoil (10%), Nico (10%).

 

 

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THE OPERATION IS BEING PERFORMED