Deal Insight
Equinor exits Azerbaijan
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
-
Upsides
- ACG offers robust value generation and non-associated gas (NAG) potential
- Opportunity to drive stalled Karabakh project forward
-
Risks
- ACG decline management will require sustained capex
- Supply chain constraints and logistical challenges complicate Karabakh development
-
Upsides
-
Strategic rationale
- Equinor
- SOCAR
- Oil & gas pricing and assumptions
Tables and charts
This report includes 6 images and tables including:
- 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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