Deal Insight
Equinor exits Azerbaijan
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Equinor has agreed to sell its Azerbaijan business to state-owned State Oil Company of the Azerbaijan Republic (SOCAR), ending its more than 30-year presence in the country. The headline purchase is Equinor's 7.27% non-operated interest in the super-giant Azeri Chirag Guneshli (ACG) oil field. The deal also includes an 8.71% holding in the Baku-Tbilisi-Ceyhan (BTC) pipeline and 50% in the undeveloped Karabakh field.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Overview
- Azeri Chirag Guneshli (ACG)
- Baku-Tbilisi-Ceyhan (BTC) pipeline
- Karabakh
- Deal analysis
-
Upsides and risks
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Upsides
- ACG offers robust value generation and non-associated gas (NAG) potential
- Opportunity to drive stalled Karabakh project forward
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Risks
- ACG decline management will require sustained capex
- Supply chain constraints and logistical challenges complicate Karabakh development
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Upsides
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Strategic rationale
- Equinor
- SOCAR
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
What's included
This report contains:
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