VOL. XLII
No. 17
26-April-1999
FSU
NAOC Ceases Operations In Azerbaijan
The North Apsheron Operating Company (NAOC) has announcedthat it will cease operations in Azerbaijan as of 30 April as a result offailing to find commercial quantities of crude oil in its offshore concession.NAOC is a consortium comprised of BP Amoco (30%), Unocal (25.5%), Itochu (20%),Socar (20%) and Delta/Hess (4.5%). The consortium痴 agreement with Azerbaijanwas signed in December 1996 covering the offshore Ashrafi and Dan...
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