Offshore staff
MOSCOW, Russia – Lukoil has completed its acquisition from Petronas of a 9.99% interest in the Shah-Deniz gas-condensate project in the Azerbaijani sector of the Caspian Sea, under a $1.45-billion transaction.
Following completion, Lukoil has increased its share in the project to 19.99%. Other parties are bp (29.99%, operator), TPAO (19%), SOCAR (14.35%), NICO (10%), and SGC (6.67%).
Shah Deniz, 70 km (43.5 mi) southeast of Baku, started production in 2006. The projects’ second development phase started in 2018.
2/22/2022
