BAKU, Azerbaijan, Feb.10. Non-current assets of Norway’s Equinor company in Azerbaijan stood at $1.401 billion as of December 31, 2022, as compared to $1.654 billion as of December 31, 2021, Trend reports via the company.
As such, its non-current assets in Azerbaijan dropped by 15.3 percent.
Equinor’s total non-current assets were equal to $64.414 billion as of December 31, 2022, compared to $71.213 billion as of December 31, 2021, showing a 9.5 percent decrease.
Equinor started its business in Azerbaijan in 1992. It is the shareholder of Azeri-Chirag-Gunashli (ACG) oil field, the Baku-Tbilisi-Ceyhan (BTC) pipeline.
On 30 May 2018 Equinor and SOCAR signed a Risk Service Agreement related to the appraisal and development of the Karabagh oilfield and a Production Sharing Agreement for the Ashrafi-Dan-Ulduzu-Aypara (ADUA) area in the Caspian Sea. Equinor and SOCAR hold equal shares in both projects.