Middle East Economic Survey
Azerbaijani-Turkish Joint Venture To Renovate Onshore Binagadi Oilfield
A joint venture between Azerbaijans refining company Azpetrol and Turkeys Enka has signed an agreement with the State Oil Company of the Azerbaijan Republic (Socar) for the rehabilitation of the onshore Binagadi oilfield. The joint venture, AZEN, will hold 70% of the equity and invest some $618mn in the project over a 25-year period. Socar will hold the...