16:13 - 10.12.2021

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December 10, Fineko/abc.az. Russian company Lukoil has announced the signing of amendments to the agreement on the purchase of a stake in the Shah Deniz project in the Azerbaijani sector of the Caspian Sea from Malaysian company Petronas, signed in October of this year.

In accordance with the new agreements, the stake acquired by LUKOIL is reduced from 15.5% to 9.99%, and the transaction amount is proportionally reduced from $2.25 bn to $1.45 bn. The signing of those amendments was the result of negotiations with partners in the Shah Deniz project on the implementation of preferential rights.

BP has agreed to purchase a 1.16% stake in Petronas at the Shah Deniz field for $168 million. This amount was agreed by Petronas on the same commercial terms as the previously announced Shah Deniz deal. As a result, BP's total share in Shah Deniz will be 29.99%, and BP will remain the operator of the field.

In addition, SOCAR also acquired a 4.35% stake in Petronas. Thus, the share of SOCAR's direct participation in Shah Deniz increased up to 14.35%.