Norwegian Equinor plans to close the deal to sell SOCAR (State Oil Company of Azerbaijan) its assets in Azerbaijan in 2024.
“The transaction is expected to close during 2024,” Equinor said in its fourth-quarter 2023 report.
In the fourth quarter, Equinor recognised net impairments of USD 328 million, mainly related to the announced sale of assets and exit from Azerbaijan.
On December 22, 2023, Equinor entered into an agreement with SOCAR to sell its assets in Azerbaijan to the State Oil Company. In particular, Equinor sold SOCAR 7.27% in the Azeri-Chirag-Gunashli (ACG) block development project, in the Baku-Tbilisi-Ceyhan (BTC) oil pipeline – 8.71%, in the Karabakh field development project – 50%.
