Equinor Considers Exit From Azerbaijan ...Middle East

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Equinor Considers Exit From Azerbaijan
Norway’s state oil company Equinor is considering the sale of its assets in Azerbaijan, Bloomberg has reported, adding that the sale would include Equinor’s stake in the biggest oil project in the Caspian country, the Azeri-Chirag-Guneshli field. The massive offshore field in the Caspian Sea contains an estimated 5.4 billion barrels of recoverable oil. With total investments of some $20 billion, production at the field began in late 1997 with peak production seen in 2009. Besides Equinor, the operator BP has as partners in the ACG field…

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