Norwegian Equinor petroleum refining company closes its branch in Azerbaijan

The Norwegian Equinor petroleum refining company has announced the liquidation of its branch under the Ashrafi-Dan-Ulduzu-Aypara (ADUA) structure in Azerbaijan, Azernews reports.

According to the State Tax Service under the Ministry of Economy of Azerbaijan, creditors are advised to submit their claims within a two-month window to the following address: 62 Uzeyir Hajibeyli St, Nasimi district, Baku.

The branch was officially registered on April 3, 2018, with Nils Telnaes serving as the legal representative.

Furthermore, in December 2023, SOCAR (State Oil Company of Azerbaijan Republic) acquired Equinor's interests in the Azeri-Chirag-Gunashli (ACG) and Garabagh fields, as well as the Baku-Tbilisi-Ceyhan (BTC) project.

Before the acquisition, Equinor held a 7.27 percent stake in ACG, 8.71 percent in BTC, and 50 percent in Garabagh. Previously, SOCAR held a 25 percent stake in ACG, 25 percent in BTC, and 50 percent in Garabagh.

The transactions will be completed in compliance with all regulatory requirements and contractual obligations.

Equinor has started the liquidation of its local companies in Azerbaijan.