Norway’s Statoil sells stakes in 3 companies to Petronas for US$2.25bil (Update)

Statoil said on Monday it sold its 15.5% participating interest in the Shah Deniz production sharing agreement, 15.5% share in the South Caucasus Pipeline Company (SCPC), 15.5% share in the SCPC holding company, and 12.4% share in the Azerbaijan Gas Supply Company (AGSC).

KUALA LUMPUR: Norway headquartered Statoil ASA has sold its stakes in three companies including the Azerbaijan Gas Supply Company (AGSC) to Petroliam Nasional Bhd for US$2.25bil.

Statoil said on Monday it sold its 15.5% participating interest in the Shah Deniz production sharing agreement, 15.5% share in the South Caucasus Pipeline Company (SCPC), 15.5% share in the SCPC holding company, and 12.4% share in the Azerbaijan Gas Supply Company (AGSC).