Azerbaijan, Equinor mull bilateral cooperation

18 March 2021 19:10 (UTC+04:00)

By Ayya Lmahamad

Azerbaijan and Norway’s Equinor company have discussed the company’s energy projects implemented in Azerbaijan and prospects for cooperation.

The discussion took place during the meeting of Azerbaijan Energy Minister Parviz Shahbazov and a delegation led by Equinor’s Executive Vice President for Development and Production International Al Cook on March 17.

During the meeting, the energy minister briefed the participants on the company’s long-term activities in the country, noting its contribution to the energy cooperation.

Along with cooperation with Equinor in the oil and gas sector, the sides discussed the possibilities of exchanging experience in the development of renewable energy sector.

Moreover, Shahbazov spoke about the expansion of renewable energy use in the country, the work done to promote investment in this direction and the implemented projects.

The minister underlined that cooperation with international companies in the green energy field is of great importance.

Additionally, information was given about the projects implemented by Equinor in the field of renewable energy sources, especially solar and wind energy, noting that the company has an extensive practice in this field.

Earlier on March 16, a meeting was held between the Equinor’s delegation and Azerbaijan’s State Oil Company President Rovnag Abdullayev.

The meeting focused on the Karabakh field development and the exploration of prospective structures, carried out jointly by SOCAR and Equinor on an equal sharing basis.

The parties discussed the results of preliminary exploration work on Dan Ulduzu- Ashrafi-Aypara prospects and possible scenarios for the next steps.

Norway’s Equinor (formerly Statoil) and SOCAR are cooperating on the development of the Karabakh field and on the exploration and production at Ashrafi-Dan Ulduzu-Aypara fields. Both companies participate in the Azeri-Chirag-Deepwater Gunashli (ACG) oil field development project. In May 2018, SOCAR Karabakh and Equinor signed a Risk Service Agreement for the development of the Karabakh oil field in the Azerbaijani sector of the Caspian Sea.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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