Middle East Economic Survey
Total Signs EDPSA Agreement With Socar For Absheron Block
Total signed an exploration, development and production-sharing agreement (EDPSA) with Azerbaijans state firm Socar on 27 February for the Absheron block in the Caspian Sea. The block lies 100km east of Baku in 500ms of water, to the east of the giant Shah Deniz gas field. Total has formed a joint venture company with Socar in which it will own 60% of the shares during the...