TPAO to buy Total's stake in Azeri gas project Shah Deniz

Turkey's state oil company Turkish Petroleum Corp (TPAO) has agreed to acquire French energy company Total's 10 percent stake in Azerbaijan's Shah Deniz gas project, an Azerbaijani energy official said.

The agreement, to be signed in Istanbul today, will raise TPAO's stake in the project to 19 percent from a previous 9 percent, while Total exits the project, Vaqif Aliyev, head of Socar's investments department, told Bakudaily.

He did not give a value for the deal.

Bakudaily.az