Statoil has completed the sale of its share in the Shah Deniz production sharing agreement to Petronas.
The Norwegian company sold off its 15.5% participating interest in Shah Deniz, 15.5% share in the South Caucasus Pipeline Company, 15.5% share in the SCPC holding company and 12.4% share in the Azerbaijan Gas Supply Company (AGSC).
Following the transaction the State Oil Company of Azerbaijan, 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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