SOCAR assumes operatorships as Statoil completes Shah Deniz sale
BAKU, Azerbaijan -- SOCAR, the State Oil Company of the Azerbaijan Republic, assumed operatorship of the Azerbaijan Gas Supply Company (AGSC) and commercial operatorship of the South Caucasus Pipeline Company (SCPC) on May 1, positions which were both previously held by Statoil.
The change follows the completion of the transaction between Statoil and Petronas regarding the sale of Statoil’s 15.5% participating interest in the Shah Deniz production sharing agreement, 15.5% in SCPC, and 12.4% in AGSC.
