Azerbaijan grappling with prospect of oil wealth dilemma

Azerbaijan expects to channel more than $52 billion during 2008-15 into its recently established national oil fund through its production-sharing agreements on the giant Azeri-Chirag-Guneshli and Shah Daniz fields in the Caspian Sea.But Samir Sharifov, executive director of the Azerbaijan State Oil Fund, warned last week that the vast potential oil wealth from the offshore province-where 18 PSA sites are under consideration for development-must be managed carefully to avoid the pitfalls experienced by other oil-exporting nations.Speaking at the Caspian Oil & Gas conference in Baku earlier this month, Sharifov said the oil fund was established last De cember and is due to be activated at t...

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