Middle East Economic Survey
ExxonMobil To Relinquish Nakhchivan PSA
ExxonMobil has decided to relinquish the offshore Caspian Nakhchivan block and is now negotiating with Azerbaijans state-owned oil company Socar on the cost of compensation it will pay for leaving before drilling its second agreed well. Exxon Azerbaijan Operating Company (EAOC), the operator, plugged and abandoned the Nakhchivan-1 well in March 2002 after reaching a depth of 6,746ms and...
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