Lukoil Acquires 25% Interest in Offshore Project in Caspian Sea from BP
29 Setembro 2021 - 06:38AM
Dow Jones News
By Joe Hoppe
Lukoil PJSC said Wednesday that it has agreed to acquire a 25%
interest in the Shallow Water Absheron Peninsula exploration
project in the Azerbaijan sector of the Caspian Sea from BP PLC for
an undisclosed sum.
The Russian oil-and-gas company said the deal is expected to
complete before the end of 2021, following its approval by the
government of Azerbaijan.
After completing the sale, BP will remain operator of the
project holding a 25% interest. The State Oil Company of
Azerbaijan, or Socar, holds the remaining 50%.
"Lukoil's joining of the project of BP and Socar falls in line
with both Russia's and Azerbaijan's national interests related to
the evolvement of international cooperation in energy domain. I am
convinced that all the scientific and technical resources gathered
by the partners will boost development of the prospective area in
the shallow waters of the Absheron Peninsula," Lukoil President
Vagit Alekperov said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
September 29, 2021 05:23 ET (09:23 GMT)
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