Statoil's presence in Azerbaijan goes back to 1992 when its first office in Baku was opened. It has since signed three production-sharing agreements (PSAs) and ranks today as one of the largest oil companies in the country.
The three production sharing agreements includes the giant oil field Azeri-Chirag-Gunashli (ACG, 8,56% share), the gas and condensate field Shah Deniz (25,5% share) and the exploration lisence Alov (15% share). Statoil is also a participant in two major pipeline projects: The Baku-Tbilsi-Ceyhan pipeline (BTC, 8,71% share) that starts operating in the first half of 2005, and the South Caucasus Gas Pipeline (SCP) that will go from Baku via Georgia to Erzurum in Turkey. The Shah Deniz project has an estimated cost of 3,2 bill USD and now delivers gas to Turkey and Georgia. Statoil is the commercial operator for the gas pipeline SCP and operates the marketing and sale of gas from Shah Deniz through Azerbaijan Gas Supply Company.
Other Norwegian companies involved in the petroleum sector in Azerbaijan are Aker Solutions (offshore operations and equipment) Det Norske Veritas (risk evaluations etc.), Stolt Offshore, Marintech, Nymo AS, Wenaas (professional garments) and Akvamiljø Caspian (scientific laboratory analyses). Within the CIS-area PGS is mainly engaged in Russia and Kazakhstan. Jotun Paint has also established their business in Baku.
The Norwegian companies Clean Energy Group and Wilhelmsen Ships Service both have permanent representation in Georgia.