Statoil 'in talks for Azeri mega-project'

Turning the wheels: Statoil for new project in Azerbaijan

Reuters/Scanpix

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By Steve Marshall and news reports

 31 January 2013 14:13 GMT

Statoil is reported to be in talks with Azerbaijan’s state oil company Socar for participation in a new giant project in the Caspian country.

The Norwegian state oil company is believed to be looking to take a major role in developing a cluster of fields – Umid, Babek, Zafar and Mashal – centred on the Umid gas discovery, based on a similar model to the BP-operated Azer-Chirag-Gunashli (ACG) project in which Statoil is a partner, according to DN.

International development and production chief Lars Christian Bacher visited the capital Baku earlier this month for discussions with Socar and also presented the company’s plans to President Ilham Aliyev, the Norwegian business daily reported.

The trip was in conjunction with a state visit by Norwegian Foreign Minister…

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