VOL. XLV

No 1

7-January-2002

CASPIAN

AIOC Plans $990Mn Upstream Budget For 2002

TheAzerbaijan International Operating Company (AIOC) has approved a budget of$990mn for 2002 with an option for a further $225mn in capital expenditure andoperating costs of $92mn, according to a statement issued on 18 December at apress conference in Baku given by David Woodward, Associate President of BPAzerbaijan, the operator of AIOC. According to the statement, most of the newyears budget will go towards...