Statoil Joins U.S. – Azerbaijan Chamber of Commerce (USACC)

Statoil is an international energy company with operations in 30+ countries. Building on more than 35 years of experience from oil and gas production on the Norwegian continental shelf, Statoil is committed to accommodating the world’s energy needs in a responsible manner, applying technology and creating innovative business solutions. Turning natural resources into energy for people and progress for society, Statoil is headquartered in Norway with 20,000 employees worldwide. It is also listed on the New York and Oslo stock exchanges.

Azerbaijan is one of Statoil’s largest and longest-standing international commitments. Since 1992 Statoil has been a partner in Azerbaijan’s industrial and economic transition. Together with the national oil company SOCAR and other international companies, Statoil has worked both industrially and socially to build Azerbaijan’s burgeoning oil and gas market to realize its full potential.

Today Statoil has an interest in the Azeri-Chirag-Gunashli (ACG) oil field, as well as the Baku-Tbilisi-Ceyhan (BTC) pipeline – which runs from Baku to the south Turkish port of Ceyhan on the Mediterranean. Over the past 20 years, more than 3 Billion barrels of oil have been extracted from the Azeri-Chhirag-Gunashli (ACG) oil field. Statoil has an 8.56% interest in the ACG oil field. 

Source: USACC