No. 05



ELF Postpones First Exploration Well In Lenkoran-Deniz AndTalesh Deniz For Lack Of Rig

Elf announced on 25 January that it will not be able tostart its first exploration well in the Lenkoran-Deniz and Talesh Denizoffshore tract until the last quarter of 2000 due to the delay in the arrivalof drilling equipment. A Mod-V jack-up rig is currently being manufactured inSingapore and is scheduled for delivery and assembly in Baku in Spring 2000.The delay has caused...