No 15



Lukoil Increases Share And Size Of Azerbaijans Offshore Yalama Block

Russias Lukoil announced on 4 April that it had reached an agreement with Azerbaijans state-owned oil company Socar for increasing its share in the offshore Yalama D-222 block by 20% to 80% as well as increasing the size of the block from its previous 1,287 sq km to 3,037 sq kms. A Lukoil statement said there is high probability of discovery of hydrocarbon reserves [in the block]. The...