VOL. XLIII

No. 38

18-September-2000

CASPIAN

Azerbaijan Signs PSA With Moncrief And Petoil

Moncrief Oil of Forth Worth, Texas and Petoil Holdings of Turkey on 12 September signed a production sharing agreement (PSA) with the State Oil Company of the Azerbaijan Republic (Socar) for the 450 sq km onshore Kemaleddin-Mishovdag block in the Kura Valley 80 kms southwest of Baku. The PSA calls for $178mn to be invested in exploration and in the rehabilitation of Soviet-era fields which currently produce...