Equinor has closed transactions exiting the upstream businesses in Azerbaijan and Nigeria, with a total estimated consideration of up to $2 billion, “Caspian Energy Media” reports.

The company that after more than 30 years as a business partner in Azerbaijan and Nigeria, transactions leading to Equinor exiting the countries have now been closed on November 29 and December 6 respectively.

For the divestment of the full portfolio in Azerbaijan, Equinor will receive a total cash consideration of $745 million. The value of the transaction in Nigeria amounts to up to $1.2 billion, consisting of a purchase price of $710 million and the remainder in contingent payments.