Panorama: Norwegian Statoil leaves Azerbaijani project Shah Deniz

Norwegian company Statoil intends to sell its shares in the project of Shah Deniz and South Caucasus Pipeline to Azerbaijan. As it is reported by Azerbaijani portal Minval.az, vice-president of Nefte Compass BP, the responsible for the development of the project Shah Deniz Al Cook said that the transaction of purchasing 10% shares of Norwegian Statoil in Shah Deniz project and South Caucasian Pipeline by State oil company of Azerbaijan (SOCAR) and the British company BP will be completed in the near future.

Cook voiced the hope that both transactions will be completed in the next few weeks.

As it is stated in the portal, according to the information provided by Statoil earlier, the size of the transaction from the purchase and sale of company assets in Azerbaijan equal to $ 1.45 billion.  

As a result of the sale of Statoil assets in Azerbaijan, SOCAR and BP respectively acquired 6.7 % and 3.3 % in the project of the development Azerbaijani gas field "Shah Deniz" and the South Caucasus Pipeline  MORE