Botas Eyeing Stake in Shakh Deniz Project



Botas, the Turksih state natural gas and pipeline company, is eyeing a stake in the Azeri natural gas field, Shakh Deniz. Lukoil is considering a proposal from its partner Agip to sell stakes in the Shakh Deniz gas project in which the joint venture holds 10 percent. Botas says it has enough cash on hand to purchase a stake, however, the company is evaluating all scenarios. According to TPAO gas deliveries from Shahk Deniz to Turkey have been pushed back from 2004 to 2006. TPAO is the Turkish state oil company and holds a 9% interest in the development.

The Shahk Deniz gas field is operated by a BP-led consortium with partners Statoil-25.5%; LukAgip-10%; OEIC-10%; SOCAR-10%; TotalFinaElf-10%; and TPAO-9%.