Equinor: We intend to continue our activities in Azerbaijan

Norwegian oil and gas company Equinor has clarified the information about the closure of its offices in Azerbaijan, Report informs.

"The information about the closing of companies in the above source is related to our previous divestment from the Shah Deniz project.
Azerbaijan is one of Equinor's largest and longest-standing international commitments, including the long-producing ACG field, and we remain committed to our presence in the country. With our partner SOCAR, we continue to mature the Karabagh field development project towards investment decisions.

"The detailed project schedule is being discussed with our partner SOCAR. Equinor has decided to postpone the drilling of the Aypara prospect due to challenges in operating during the current Covid-19 and overall industry context. It is too early to indicate when the well will be spudded."

Equinor ASA (formerly Statoil) has been operating in Azerbaijan since 1992. The company is a shareholder of the Production Sharing Agreement (7.27 percent) on the Azeri-Chirag-Guneshli project and the Baku-Tbilisi-Ceyhan (8.71 percent) oil pipeline.

SOCAR and Equinor signed a Production Sharing Agreement (PSA) type contract in Baku on May 31, 2018, to explore and develop the block of prospective structures Dan -Ulduzu-Ashrafi-Aypara, and Risk Service Contract to develop the Karabakh field.