SOCAR Expands Influence in Caspian Basin with Equinor Deal

Equinor is exiting Azerbaijan by selling all its oil and gas assets there to Azeri state energy firm SOCAR, the Norwegian major said on Friday.  For an undisclosed sum, Equinor will divest all its assets in Azerbaijan, which include a 7.27% non-operated interest in the huge Azeri Chirag Gunashli (ACG) oil fields in the Caspian Sea, an 8.71% interest in the Baku-Tbilisi-Ceyhan (BTC) pipeline, and 50% in the Karabagh field.  SOCAR already holds a 25.0% stake in ACG, a 25.0% interest in BTC via Azerbaijan BTC Limited, and 50% in…