VOL. XLVI
No 47
24-November-2003
CASPIAN
ChevronTexaco, Total Pay Socar $40Mn To End Absheron Commitment
ChevronTexaco and Total have paid the State Oil Company of the Azerbaijan Republic (Socar) $40mn in compensation for not drilling a second well in the Caspian offshore prospect of Absheron, Dow Jones Newswires reported on 18 November. As operator of the Absheron contract, ChevronTexaco failed to discover commercial quantities of hydrocarbons upon the completion of its first well, Absheron-1...
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