Middle East Economic Survey

VOL. XLIX

No 5

30-January-2006

CASPIAN

ExxonMobil Pays $50Mn Compensation For Azerbaijans Nakhichevan And Zafar Mashal BlocksAzerbaijans state-owned oil company Socar on 24 January said ExxonMobil had agreed to pay $50mn compensation for withdrawing from the offshore Nachichevan and Zafar Mashal $18mn for the former and $32mn for the latter. ExxonMobil, which confirmed that a settlement had been reached, had drilled only one well on each block despite stipulations in...