VOL. XLVI
No 26
30-June-2003
CASPIAN
JAOC To Withdraw From Azerbaijan Later This Year
The Japan Azerbaijan Operating Company (JAOC) is expected to quit Azerbaijan later this year after two exploration wells drilled in the Yanan Tava production sharing agreement (PSA) failed to make a commercial discovery. JAOC holds 50% of the PSA, which includes the Yanan Tava, Ateshgyakh and Mugan Deniz structures, while the remaining 50% is held by Azerbaijans state-owned Socar. The president of JAOC, Norihiko...
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