Scandoil  

Statoil’s farm down in Shah Deniz and South Caucasus Pipeline completed


Published May 7, 2014
The Shah Deniz platform in the Caspian Sea-2

On 1 May 2014 Statoil completed the farm down of 10% of its interest of 25.5% in the Shah Deniz Production Sharing Agreement and the South Caucasus Pipeline Company Limited to BP (3.33%) and SOCAR (6.67%).

The consideration for the sale and transfer of these assets is USD 1.45 billion.

The divestment that was announced in December 2013, is in line with Statoil’s strategy of portfolio optimisation based on rigid prioritisation of future investments, and capturing value created from a significant gas position.

Statoil portfolio in Azerbaijan consists of 15.5% in the Shah Deniz (SD) project and the South Caucasus Pipeline (SCP), 8.56% in Azeri-Chirag-Guneshli (ACG) and 8.71% in Baku-Tbilisi-Ceyhan (BTC) Pipeline.

Tags: Statoil




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml