Norwegian oil company Statoil has divested activities in Azerbaijan, says the company in a corporate statement.
The transaction includes a 15.5 percent stake in gas field Shah Deniz, located in the southern part of the Caspian Sea off the coast of Azerbaijan, along with 15.5 percent in the company South Caucasus Pipeline Company, 15.5 percent in the SCPC holding company and 12.4 percent in Azerbaijan Gas Supply Company. All the assets are acquired by Malaysian oil company Petronas and the transaction is worth a total USD 2.25 billion, according to Statoil.
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