PSA For Azerbaijan痴 Alov-Araz-Sharg Concession BecomesEffective
The production sharing agreement (PSA) for Azerbaijan痴offshore Alov-Araz-Sharg concession, also referred to as the Abikh concession,came into effect on 23 March. Exxon took the last 15% of the equity in Februaryand Canada痴 Alberta Energy Co. was awarded 5% of the shares in January (MEES,1 February and 1 March). The contract was ratified by the Azerbaijaniparliament on 18 December 1998. The deal calls...