PJSC LUKOIL announces completion of the transaction of buying a 9.99%
interest in the Shah-Deniz gas project from PETRONAS. The transaction
value is approximately $1.45 billion.
Following the completion of the deal, LUKOIL
increased its share in the project from 10% to 19.99%. Other parties
to the project are bp (29.99%, operator), TPAO (19%), SOCAR (14.35%),
NICO (10%) and SGC (6.67%).
Information
The Shah Deniz gas
condensate field is located in the Azerbaijan sector of the Caspian
Sea, 70 kilometres southeast of Baku.
The project is
implemented under a PSA; commercial production there began in 2006.
In 2021, Shah Deniz consortium extracted 22.7 bcm of gas and 4.2
million tonnes of oil and gas condensate.
In 2018, the second
stage of the project was launched, with annual production expected to
reach 26 bcm of gas and 5 million tonnes of oil and gas condensate.
The gas is sold on the markets of Azerbaijan, Georgia, and Turkey.
Since December 2020, it is also delivered to Europe.
CONTACT INFORMATION
Press Centre PJSC "LUKOIL"
media@lukoil.com
+7 (495) 627-16-77
https://www.lukoil.com
https://www.facebook.com/Lukoil.en
https://twitter.com/lukoilengl
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