Equinor discloses reasons for selling its assets in Azerbaijan

Equinor is in the process of reshaping its international oil and gas business, and the divestments in Azerbaijan are in line with a strategy to focus the international portfolio, said Equinor Executive Vice President for International Exploration and Production Philippe Mathieu, Report informs.

“Azerbaijan has been an important part of Equinor’s international portfolio over the past 30 years. Together with SOCAR and the other partners in ACG, we have created significant value for the partnership and for the Azerbaijani society,” he said.

"SOCAR is well positioned to create further value from the assets for the longer-term and we have appreciated the close collaboration over the years," Mathieu added.