Middle East Economic Survey

VOL. LIV

No 18

2-May-2011

CASPIAN

BP And Socar Discuss Exploration Of Shafag-Asiman Block

Socar President Rovnag Abdullayev urged BP Group Chief Executive Robert Dudley to pick up the pace of implementing the Shafag-Asiman production sharing agreement (PSA), in a meeting in Baku on 27 April. Operator BP and Socar signed the Shafag-Asiman PSA in October 2010, with both companies holding 50% equity. The PSA is valid for 30 years, but has yet to be ratified by the...