The meeting resulted in agreements for SOCAR's acquisition of Equinor’s shares in the Azeri-Chirag-Gunashli (ACG) and Karabakh fields, along with the Baku-Tbilisi-Ceyhan (BTC) pipeline project.
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.
The transactions will be completed following compliance with all regulatory requirements and contractual obligations.
The meeting concluded with the signing of a Memorandum of Understanding between SOCAR and Equinor, signifying a mutual collaboration in decarbonization and green energy.
AzVision.az
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