ECONOMY


SOCAR assumes operatorship of Azerbaijan Gas Supply Company and commercial operatorship of South Caucasus Pipeline Company

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Baku, May 1, AZERTAC 

The State Oil Company of Azerbaijan, SOCAR, is assuming operatorship of Azerbaijan Gas Supply Company (AGSC) and commercial operatorship of South Caucasus Pipeline Company (SCPC), which have both previously been held by Statoil.

This happens after Statoil and the Malaysian oil and gas company PETRONAS completed their transaction announced previously on 13 October 2014.

The sale involved the transfer of Statoil’s 15.5% participating interest in the Shah Deniz production sharing agreement, 15.5% share in the South Caucasus Pipeline Company, 15.5% share in the SCPC holding company, and 12.4% share in the Azerbaijan Gas Supply Company.

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