Statoil ASA (STO) and Malaysia’s state-owned Petronas completed the sale of Statoil’s 15.5% participating interest in Shah Deniz production-sharing agreement, 15.5% share in South Caucasus Pipeline Co. (SCPC), 15.5% share in SCPC’s holding company and 12.4% share in Azerbaijan Gas Supply Co. (AGSC), Statoil said April 30.

The transaction was announced Oct. 13, 2014.

It closed after all conditions were satisified, and its effective date is Jan. 1, 2014. Following the transaction, State Oil Company of Azerbaijan will become operator of AGSC and commercial operator of SCPC. The effective date for these roles is May 1, and previously, Stavanger, Norway-based Statoil held them.

Source: Statoil