Middle East Economic Survey

VOL. XLVIII

No 21

23-May-2005

CASPIAN

Azerbaijans Parliament Ratifies Three Onshore Oil Agreements

Azerbaijans parliament on 29 April ratified three production-sharing agreements (PSAs) signed in 2004 with foreign companies for onshore prospects in which state-owned oil and gas company Socar is a partner:

  • Kyurovdag oilfield Caspian Energy Group of the UK (50%), Socar (50%). The contract is for 25 years with an option to extend for another five years. The Kyurovdag...