Middle East Economic Survey

VOL. LIII

No 33

16-Aug-2010

CASPIAN

BP And Socar Sign MOU Covering Shafag Asiman Offshore Structure

BP and Azerbaijans state-owned oil and gas company Socar on 13 July signed a memorandum of understanding (MOU) to jointly explore and develop the offshore Shafag Asiman structure in the Caspian Sea. Shafag Asiman, which has not been explored before, is located in 650-800ms of water and the hydrocarbon reservoir is estimated at a depth of about 7,000ms, BP reported in a...