VOL. XLII
No. 06
8-February-1999
FSU
AIOC Says It Will Cut Production, Operating Costs In 1999
The newly appointed chairman of the Azerbaijan InternationalOperating Company (AIOC), Mr. David Woodward, announced in Baku on 1 Februarythat the BP Amoco-led consortium would move to cut production costs by half andreduce operating expenses by up to 25% during 1999. He also said that as manyas 30 of the firm痴 120 expatriate staff would be cut and that AIOC痴 Londonoffice might also close. "Caspian Sea...
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