Lukoil says buys 15.5% in Shah Deniz from Petronas for $2.25 bln

MOSCOW, Oct 7 (PRIME) -- Russian oil major Lukoil has acquired a 15.5% stake in the Shah Deniz natural gas project in the Azerbaijani sector of the Caspian Sea from Malaysia’s Petronas for U.S. $2.25 billion, the Russian company said in a statement on Thursday.

The company will close the deal after suspensive conditions, including coordination of the deal by Azerbaijan’s state oil company SOCAR, are met. Following the closure, Lukoil’s stake in the project will rise to 25.5%.

The other members of the project are BP with a stake of 28.8%, TPAO with 19%, SOCAR with 10%, NICO with 10%, and SGC with 6.7%.

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