Press Release

Morgan Lewis Advises Equinor in Divestment of Azerbaijan Assets to SOCAR

15 января 2024 г.

ABU DHABI, LONDON, January 15, 2024: Morgan Lewis is representing Equinor, a Norwegian state-owned energy company, in its agreement with SOCAR, an Azerbaijan state-owned oil company, in which Equinor will divest all its remaining assets in Azerbaijan to SOCAR. The assets comprise a 7.27% nonoperated interest in the Azeri Chirag Gunashli (ACG) oil fields in the Azerbaijan sector of the Caspian Sea, an 8.71% interest in the Baku-Tbilisi-Ceyhan (BTC) pipeline, and a 50% interest in the Karabagh field. 

Equinor has been present in Azerbaijan since 1992. ACG, operated by BP plc, is the largest oilfield in the Azerbaijan sector of the Caspian basin, and the BTC pipeline is used to transfer crude oil to the Turkish Mediterranean coast.

The Morgan Lewis team advising Equinor includes partner Jennifer Josefson and legal consultant Alexandra Rotar.