Middle East Economic Survey
VOL. XLVII
No 29
19-July-2004
CASPIAN
Shengli, MEP Plan $40Mn Investment In Azerbaijans Onshore Pirsagat Oilfield
Chinas Shengli Oil Company and Azerbaijans Middle East Petroleum (MEP part of the Azerbaijani holding company Azersun Holding) plan to invest $40mn in Azerbaijans aging onshore Pirsagat oilfield during 2004. Shengli signed a 25-year rehabilitation, exploration and production-sharing agreement with Azerbaijans state-owned oil company Socar in June 2003 (MEES...
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