VOL. XLII

No. 02

11-January-1999

FSU

Azerbaijan Signs Production Sharing Agreement With Japanese Consortium

Azerbaijans state-owned oil company Socar signed a 25-yearproduction-sharing contract with a consortium of Japanese companies on 25 December thatcalls for the rehabilitation and exploration work in the offshore Area-I block, whichcontains the Atashgyakh, Yanan-Tava and Mugan-Deniz oilfields. Socar will hold 50% of thejoint venture with the remaining 50% broken down as follows: Japan...