VOL. XLI

No. 51

21-December-1998

IRAN

Iran And Azerbaijan Exchange Objections Over Caspian Sea Exploration

Iran and Azerbaijan have exchanged remarks concerning territorialclaims and exploration contracts in the southern Caspian Sea. The dispute follows thesigning last week of a $19.8mn exploration study agreement between the National IranianOil Company (NIOC) and Royal Dutch/Shell and Lasmo of the UK (MEES, 14 December).British Petroleum has an option to join the deal by 15 January 1999.

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