Equinor concludes operations in Azerbaijan and Nigeria

Equinor has officially ended its activities in Azerbaijan and Nigeria following agreements signed on November 29 and December 6, respectively, Azernews reports.

Philippe Mathieu, Equinor’s Executive Vice President for International Exploration and Production, underscored the strategic significance of these moves.

“These steps allow us to execute our strategy, capture maximum value and focus our investments on the areas that generate the highest returns,” he stated.

It is worth noting that Equinor secured $745 million for its Azerbaijani portfolio and $1.2 billion for its Nigerian assets, including contingent payments of $710 million.

Acknowledging the contributions of the company’s workforce and collaborators, Mathieu added, “Together, we have created significant value for Equinor and society at large. I thank everyone involved and wish our teams every success in their future professional endeavors.”