12:35 - 9.12.2024

---

December 9, Fineko/abc.az. Equinor completed its operations in Azerbaijan and Nigeria with agreements signed on November 29 and December 6, respectively, after more than 30 years of cooperation with these countries, ABC.AZ reports referring to company's statement.

"The company has finished deals to exit mining assets in Azerbaijan and Nigeria for a total estimated amount of up to $2 billion. Of this amount, $745 million is the funds the company will receive from the sale of the portfolio in Azerbaijan. The deal in Nigeria is estimated at up to $1.2 billion, including $710 million for the purchase and contingent payments," the statement says.

Equinor announced the sale of assets and withdrawal from operations in Azerbaijan and Nigeria in 2023. The company notes that these transactions are in line with its strategy to optimize its oil and gas portfolio and will increase investments in countries where Equinor can bring the "greatest benefit" by creating a more focused and reliable international portfolio.

"These deals help us focus on our international portfolio. Combined with recent acquisitions and investments in competitive projects, we are focused on ensuring sustainable production and profits for the long term," said Philippe Mathieu, Executive Vice President of International Exploration & Production at Equinor.