World's largest tobacco firm formed by BAT £40.8bn takeover of US rival Reynolds (18 January 2017 15:46)
Neftchi Baku draw 2-2 with Russian Tosno (18 January 2017 14:46)
Azerbaijan`s FM leaves for Malaysia to attend OIC meeting (17 January 2017 18:46)
Date: 25 December 2015 11:57
Baku, Azerbaijan, Dec. 25
By Aygun Badalova - Trend:
Petronas’ acquisition of oil and gas-related assets in Azerbaijan is the second largest merger and acquisition (M&A) deal in Malaysia in 2015, The Star Online reported.
In April 2015, Petronas closed the transaction which involved the transfer of Statoil’s 15.5 percent participating interest in the Shah Deniz production sharing agreement, 15.5 percent share in the South Caucasus Pipeline Company (SCPC), and 12.4 percent share in the Azerbaijan Gas Supply Company (AGSC).
The total cost of transaction was $2.25 billion.
The acquisition of Edra Global Energy Bhd by China General Nuclear Power Corp (CGN), valued at a $2.3 billion is the largest transaction of the year, heading the top 10 list of M&A deals in Malaysia.
The contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The field’s reserves are estimated at 1.2 trillion cubic meters of gas.
The shareholders in the contract are: BP, operator (28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), Lukoil (10 percent), NIOC (10 percent) and TPAO (19 percent).
Follow us on Twitter @TRENDNewsAgency