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, two sources close to the matter said on Thursday.
The agreement, to be signed in Istanbul on Friday, will raise TPAO’s stake in the project to 19 percent from a previous 9 percent, while Total exits the project, reported Reurters.
The sources did not give a value for the deal.