VOL. XLII

No. 09

1-March-1999

FSU

Exxon Lands Remaining 15% of Azerbaijan痴 Alov-Araz-ShargBlock

Exxon has been awarded the remaining 15% of Azerbaijan痴offshore Alov-Araz-Sharg concession. Exxon affiliate Exxon South Caspian Ltd.signed the production sharing agreement with Azerbaijan痴 state-owned Socar on22 February. Canada痴 Alberta Energy Co. was awarded 5% of the block in January(MEES, 1 February). The contract was ratified by the Azerbaijaniparliament on 18 December 1998. The deal calls for...