The Shah Deniz gas condensate field is located in the Azerbaijan sector of the Caspian Sea, 70 kilometres southeast of Baku.
KUALA LUMPUR: Russian multinational energy corporation, PJSC Lukoil Oil Companyhas bought a 15.5% stake in the Shah Deniz natural gas project in the Azerbaijan sector of the Caspian Sea from Petroliam Nasional Bhd (Petronas).
In a statement posted on its website on Thursday, the value of the transaction will amount to US$2.25bil (RM9.41bil) , and the completion is subject to fulfilment of conditions precedent, including approval by SOCAR, the State Oil Company of the Azerbaijan Republic.
