SOCAR, a fully state-owned national oil and gas company, agreed to acquire Azerbaijan assets of Equinor, a Norwegian state-owned multinational energy company. Financial terms were not disclosed. “Azerbaijan has been an important part of Equinor’s international portfolio over the past 30 years. Together with SOCAR and the other partners in ACG, we have created significant value for the partnership and for the Azerbaijani society. SOCAR is well positioned to create further value from the assets for the longer-term and we have appreciated the close collaboration over the years,” Philippe Mathieu, Equinor Executive Vice President.