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Norway's Statoil completes sale of Shah Deniz stake

Published May 6, 2014 Updated May 6, 2014 07:05am

1 min

By Shoaib Ur Rehman

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OSLO: Norway's Statoil has completed the sale of a 10 percent stake in the Azeri Shah Deniz gas project and the South Caucasus Pipeline for a consideration of $1.45 billion, the energy firm said on Tuesday.

Statoil first announced the divestment on Dec. 17.

It sold a 3.33 percent stake to BP and a 6.67 percent stake to Azeri state oil company SOCAR.

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