SOCAR Likely To Attend ONS 2024 Conference In Norway's Stavanger
Date
6/25/2024 9:22:52 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, June 25. The State Oil
Company of Azerbaijan (SOCAR) might throw its hat in the ring for
the conference "ONS 2024," set to take place from August 26–29 in
the Norwegian city of Stavanger, Trend reports.
The potential involvement of SOCAR in this prestigious global
gathering was deliberated by SOCAR President Rovshan Najaf and
Equinor Senior Vice President Giuseppina Ragone in Baku on June
25.
"The parties also discussed the implementation of the Memorandum
of Understanding on cooperation in the field of decarbonization,
signed last December, and other issues of mutual interest," the
information of SOCAR in social networks noted.
In the meantime, Equinor decided to throw in the towel and
officially pull the plug on fossil fuel projects in Azerbaijan come
December 2023, all while keeping their eye on the ball with "green"
projects.
Furthermore, in December 2023, SOCAR announced the acquisition
of Equinor's stake in the Azeri-Chirag-Guneshli, Karabakh, and
Baku-Tbilisi-Ceyhan (BTC) fields.
Equinor previously held a 7.27 percent stake in ACG, 8.71
percent in BTC, and 50 percent in the Karabakh field. Previously,
SOCAR held a 25 percent stake in ACG, a 25 percent stake in BTC,
and a 50 percent stake in the Karabakh field.
To note, the transactions will be completed in 2024, in
compliance with all regulatory requirements and contractual
obligations.
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