TPAO Inks Deal for Total's Azeri Gas Stake

State oil company Turkish Petroleum Corp (TPAO) signed a deal on Friday to acquire French energy company Total's 10 percent stake in Azerbaijan's Shah Deniz gas project, at a signing ceremony in Istanbul.

The agreement increases TPAO's stake in the project to 19 percent from a previous 9 percent, while Total exits the project. Financial details of the agreement were not disclosed.

Turkish pipeline firm Botas also signed an agreement with Azeri state oil company SOCAR to raise its stake in the Trans-Anatolian natural gas pipeline project (TANAP) to 30 percent from 20 percent.

Reporting by Humeyra Pamuk