VOL.XXXIXNo.65/66

23/30-December-1996FSU

AzerbaijanSigns $2Bn E&P Contract With Western Consortium Azerbaijan's state-owned oil company Socar signed on 14 December a $2bnexploration and production contract with a western consortium coveringdevelopment in the offshore Ashrafi and Dan Ulduzu fields. Under the agreement,Amoco will hold 30% of the deal, Japan's Itochu 20%, Unocal 24.5% and SaudiArabia's Delta Nimir 4.5%. Socar will hold the remaining 20% andAzerbaijan will retain between 65...