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Statoil cuts jobs in Baku office

Statoil cuts jobs in Baku office
02.09.2015 16:00
Norway’s Statoil has cut most of the jobs in its Baku office as the company exited Azerbaijan’s Shah Deniz natural gas project.

While Statoil had almost 40 staffers in Baku until a few years ago, only about 10 remained now, an unnamed company official told APA news agency.

Statoil sold its 25.5 percent share in Shah Deniz and also exited from the South Caucasus Pipeline. It is expected to pull out of the Trans-Adriatic Pipeline (TAP) as well.

The company still holds 8.6 percent in Azeri-Chirag-Guneshli (ACG) oil project. 

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