BAKU, Azerbaijan, March 20. Norway’s Equinor company paid a total of $435 million to Azerbaijani government in 2024 for the development of Azeri-Chirag-Gunashli (ACG) block of fields, Trend reports referring to the company’s data.
This is while in 2023, it amounted to $484.7 million. As such, the amount of payments made by Equinor to the Azerbaijani government dropped by 10.25 percent year-on-year.
In late December 2023, Azerbaijan’s state oil company SOCAR acquired Equinor’s shares in Azeri-Chirag-Gunashli, Karabakh fields, and Baku-Tbilisi-Ceyhan project.
The transaction was closed in November 2024.
Before the acquisition, Equinor held a 7.27% stake in the ACG oil fields, an 8.71% interest in the BTC pipeline, and 50% in the Karabakh field. Previously, SOCAR had a 25% stake in ACG, 25% in BTC, and 50% in the Karabakh field.
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