VOL. XLII

No 51

20-December-1999

FSU

Azerbaijan Sells First AIOC Profit Oil To TotalFina

The first cargo of crude oil that will turn a profit for theAzerbaijan International Operating Company痴 (AIOC痴) members will be sold for$25-26mn this week to TotalFina and loaded at the Georgian Black Sea port ofSupsa. This will be the first profit oil that Azerbaijan has seen from itsproduction sharing agreement with the BP Amoco-led consortium, as AIOC has paidoff its operating costs to date. Future...