VOL. XLII

No. 04

25-January-1999

FSU

CIPCO Quits Azerbaijan For Lack Of Commercial Discoveries

The Caspian International Petroleum Company (CIPCO)announced on 21 January that it intends to cease operations in Azerbaijan atmidnight 22 February upon expiration of its exploration period. The move comesas a result of the consortium having failed to find commercial quantities ofcrude oil in its offshore Karabakh tract. In announcing the group痴 plans toquit Azerbaijan, CIPCO President James Tilley...