SOCAR sold its stake in "Shah Deniz"

SOCAR sold its stake in "Shah Deniz"
# 25 June 2023 17:10 (UTC +04:00)

SOCAR has sold its stake in the "Shah Deniz" gas-condensate field within the framework of the Production Sharing Agreements (PSAs), State Oil Company of the Azerbaijan Republic (SOCAR) told APA-Economics.

According to information, on March 31 of 2023, SOCAR sold its 14.35% stake in the field to Southern Gas Corridor (SGC) Upstream LLC. On the same date, the Group transferred its 14.35 % stake in South Caucasus Pipeline (SCP) and SCP HoldCo to SGC Midstream LLC.

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THE OPERATION IS BEING PERFORMED