British company BP announced an increase in its share in the development of the Shah Deniz gas condensate deposit in the Azerbaijani sector of the Caspian Sea.
“Company BP, using its preferential right, after negotiations with the project partners, decided to purchase part of the share of the Malaysian company Petronas in the project, which was announced in advance,” said BP.
BP acquired 1.16% of Petronas more than $ 168 million. Thus, the share of BP in the project increases to 29.99%, the company remains the project operator. It is expected that the deal will be completed by the end of January 2022.
Earlier, Russian LUKOIL announced the signing of an agreement on the purchase of 15.5% of Shaudeniz shares in Petronas. The cost of the transaction is 2.25 billion dollars.