The average daily production of the Norwegian oil and gas company Equinor in Azerbaijan in 2024 amounted to 23,000 barrels of oil equivalent, which is 11.54% less than in 2023 (26,000 barrels), Report informs referring to the company.
The figures include production before the completion of the deal to sell Equinor’s oil and gas assets in Azerbaijan.
In general, Equinor’s average daily production in all countries of presence in 2024 amounted to 2.067 million barrels of oil and gas, a decrease of 0.72% year-on-year.
Azerbaijan’s share in the company’s total production amounted to 1.11%.
On November 29, 2024, Equinor completed a deal with the State Oil Company of Azerbaijan (SOCAR) and India’s ONGC Videsh Limited (ONGC) to sell a 7.27% non-operator stake in the Azeri-Chirag-Gunashli (ACG) block of fields in the Azerbaijani sector of the Caspian Sea and an 8.71% stake in BTC Co, which operates the Baku-Tbilisi-Ceyhan (BTC) oil pipeline.
The Norwegian company also sold SOCAR a 50% stake in the Karabakh field project; the deal was completed in April 2024.
The total amount received by Equinor from the sale of assets in Azerbaijan amounted to $713 million.
