Petronas completes asset acquisition

BAKU: Malaysia’s state-owned oil and gas (O&G) giant Petronas has completed its transaction for the acquisition of O&G related assets in Azerbaijan, following a sales and purchase agreement it signed with Norway-based Statoil in October last year.

Petronas’ Azerbaijan country chair Zainal Abidin Zainudin said Petronas completed the acquisition on April 30 and now officially owns a 15.5% interest in the Shah Deniz production sharing agreement in the Caspian Sea, a 12.4% stake in Azerbaijan Gas Supply Co and a 15.5% share in the South Caucasus Pipeline Co.