Statoil’s farm down in Shah Deniz and South Caucasus Pipeline completed
The consideration for the sale and transfer of these assets is USD 1.45 billion.
The Shah Deniz platform in the Caspian Sea. (Photo: Shahin Abasaliyev)
The divestment 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.
Statoil also holds a 20% share in Trans Adriatic Pipeline (TAP) AG, which is developing the pipeline for transport of the Shah Deniz gas to European markets.
Licensees in Shah Deniz: BP 28.8%, SOCAR 16.7%, Statoil 15.5%, Lukoil 10%, NICO 10%, Total 10% and TPAO 9%.
Operator for Shah Deniz: BP
Technical operator of the South Caucasus Pipeline (SCP): BP
Commercial operator of SCP: Statoil
Hilde Merete Nafstad, senior vice president, investor relations
Tel: +47 957 83 911
Morten Sven Johannessen, vice president, investor relations North America
Tel: +203 570 2524
Knut Rostad, press spokesperson
Tel: +47 905 48 990