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Statoil reduces staff in Azerbaijan-based office

02 September 2015 12:27 (UTC +04:00)

Baku. Agshin Rafigoglu - APA-Economics. Norwegian Statoil oil and gas company leaves Azerbaijan’s energy sector, Statoil Azerbaijan’s employee told APA-Economics.

According to that employee, the company made serious staff reduction: “The company has 10-12 employees from 40. Baku office of the company has been shut down. PR and other departments have been shut down. Only managing and accounting persons are working”.

Statoil entered Azerbaijan’s market in 1992 and participated in several energy projects.

Currently, Statoil has 20%-share in TAP. However, negotiations are underway to sell the share to Malaysian Petronas copmany.

According to APA-Economics, he Norwegian company is interested in selling its share to Petronas. Cost of deal is still unknown.