Statoil completes sale of share in Shah Deniz to Petronas

Statoil and Petronas have completed a sale transaction involving the transfer of Statoil’s 15.5% participating interest in the Shah Deniz production sharing agreement, 15.5% share in the South Caucasus Pipeline Co. (SCPC), 15.5% share in the SCPC holding company, and 12.4% share in the Azerbaijan Gas Supply Co. (AGSC).

Following this transaction, Azerbaijan's state oil company, SOCAR, will assume operatorship of AGSC and commercial operatorship of SCPC as of May 1, which have both previously been held by Statoil.



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