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Reuters: Korea’s KNOC to buy 20 pct stake in Azeri INAM

Tue Aug 28, 2007 7:47AM BST

BAKU, Aug 28 (Reuters) – Korean National Oil Company (KNOC) will buy 20 percent in Azerbaijan’s undeveloped oil project INAM following oil major Royal Dutch Shell’s (RDSa.L: Quote, Profile, Research) decision to cut its stake, an Azeri official said on Tuesday.

Energy Minister Natik Aliyev told reporters the project would remain under the leadership of BP (BP.L: Quote, Profile, Research), which has a 25 percent stake, while Shell would reduce its stake to 5 from 25 percent.

Azeri stake state oil company SOCAR would continue to own a 50 percent stake. and its sister non-profit websites,,,,,, and are owned by John Donovan. There is also a Wikipedia feature.

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