Acquisitions and Divestitures News in Azerbaijan

LUKOIL Completes the Deal on Acquiring Interest in Shah-Deniz Project
2/18/2022 - 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...
LUKOIL Reports on Amended Terms of Share Acquisition in Shah Deniz Project
12/10/2021 - PJSC "LUKOIL" announces the signing of amendments to the agreement concluded in October 2021 on the acquisition of a share in the Shah Deniz project from PETRONAS. In accordance with the new arrangeme...
Lukoil Increases Its Share in the Shah Deniz Project in the Caspian Sea
10/7/2021 - PJSC LUKOIL announces conclusion of an agreement on acquiring 15.5% interest in the Shah Deniz natural gas project in the Azerbaijan sector of the Caspian Sea from PETRONAS. The value of the transacti...
Joint statement of SOCAR and PJSC Sberbank
4/22/2021 - SOCAR successfully completed its engagement in the management of Antipinskii Refinery and the oil fields, owned by the subsidiary of the refinery - NKNP LLC. Therewith, SOCAR withdraws as equity share...
Zenith Energy Announces Termination of Exploration in Azerbaijan
11/10/2020 - Zenith Energy Ltd. (Zenith) (ZENA-ME) announces that, in agreement with SOCAR (State Oil Company of the Azerbaijan Republic), the Contract Exploration Area ("CEA") of its 25-year REDPSA (Rehabilitatio...
Chevron Sells Azerbaijan Assets to MOL Hungarian Oil and Gas
4/16/2020 - Chevron Corporation (CVX) announced that its affiliate companies have sold their non-operating interests in the Azeri-Chirag-Deepwater Gunashli (ACG) oil fields (including interests in the Western Exp...
MOL to Acquire Chevron's Stake in Azerbaijan’s ACG Oil Field
MOL to Acquire Chevron's Stake in Azerbaijan’s ACG Oil Field 11/4/2019 - MOL has signed an agreement with Chevron Global Ventures and Chevron BTC Pipeline to acquire their non-operated E&P and mid-stream interests in Azerbaijan, including a 9.57% stake in the Azeri-Chirag-...
BP Buys 61% Stake In Azerbaijan's Gobustan Onshore Project
9/14/2018 - British oil major BP has acquired a 61 percent participating interest in the existing onshore Gobustan PSA (product sharing agreement) in Azerbaijan, BP Azerbaijan said on Friday. BP, as operator, pla...
The Azerbaijan Government & Co-Venturers Sign Amended and Restated ACG PSA
9/14/2017 - The Azerbaijan Government and the State Oil Company of the Republic of Azerbaijan (SOCAR), together with BP, Chevron, INPEX, Statoil, ExxonMobil, TP, ITOCHU and ONGC Videsh today signed the amended an...
BP to Sign Azerbaijan Oilfield Extension Deal at End of June 2017
6/1/2017 - BP expects to sign a contract at the end of June extending its production sharing deal for Azerbaijan's biggest oilfields until 2050, the company's regional head said on Wednesday. ...
SOCAR Did Not Extend the Term of the Privatization Tender for 66% of DESFA
12/1/2016 - SOCAR, Hellenic Republic Asset Development Fund S.A and Hellenic Petroleum S.A. did not extend the term of the privatization tender for 66% of Hellenic National Natural Gas System Operator S.A. (DESFA...
SOCAR & OMV Petrol Ofisi Agreed on Aliaga Terminal
10/11/2016 - A group of international investors led by SOCAR, the largest direct foreign investor in Turkey, has reached an agreement with OMV Aktiengesellschaft to acquire the Aliaga Storage Facilities owned by O...
Agreement Signed on Rehabilitation & Production Sharing for 3 Block
3/16/2016 - SOCAR, Zenith Aran Oil Company Limited and SOCAR Oil Affiliate have signed the Agreement on the Rehabilitation, Exploration, Development and Production Sharing for the Block including the Muradkhanli,...
Statoil to Divest Interest in Trans Adriatic Pipeline for EUR 208 million
Statoil to Divest Interest in Trans Adriatic Pipeline for EUR 208 million 12/1/2015 - Following the divestment of its share in the Shah Deniz gas field in Azerbaijan, Statoil has agreed to sell its 20% interest in Trans Adriatic Pipeline AG to the Italian gas infrastructure company Sna...
Petronas Company Signed Addendum to Memorandum with SOCAR
9/3/2015 - SOCAR President Rovnag Abdullayev received a delegation led by Datuk Wan Zulkiflee Wan Ariffin, President and CEO of Malaysian Petronas. Expressing gratitude for sincere welcome, Datuk Wan Zulkiflee W...
SOCAR Confirms Interest in Acquiring DESFA Stake
8/26/2015 - Azerbaijan's state-owned oil company SOCAR had confirmed its interest in acquiring a stake in Greek gas grid operator DESFA, with a deal possible by the end of the year, Greece's privatisation agency ...
BHOS Students Taking Internship at Neft Dashlari
7/31/2015 - BHOS 2nd and 3rd year students on petroleum engineering are taking internship at Neft Dashlari (Oil Rocks) Petroleum Extraction Department of Azneft Production Union in order to practice their theoret...
SOCAR Plans to Reduce Stake in Turkey's Petkim
7/22/2015 - Azeri state energy company SOCAR plans to sell part of its stake in Turkish petrochemicals company Petkim to cash in on a rise in its share price, SOCAR's president was quoted as saying by Azeri news ...
Azerbaijan President Open to Snam Taking Stake in TAP Project
7/9/2015 - Azerbaijan is open to Italian gas infrastructure group Snam taking a stake in the project to build the Trans Adriatic Pipeline (TAP) that will carry gas from Azerbaijan to Europe, President Ilham Aliy...
Nobel Oil Services Buys 50% of British Company’s Azerbaijan Fabrication Businesses
6/30/2015 - Nobel Oil Services (UK) Ltd acquired 50 % of Denholm Oilfield Services Limited’s fabrication business in Azerbaijan. Denholm confirmed that it has sold 50% of its interests in SDL Denholm Limited and ...

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