CASPIAN PROGRESS TOPS C.I.S. DEALS
Upstream joint ventures continue to sprout in the C.I.S., notably a major exploration and development push in the Caspian Sea. Among the latest deals: A Unocal Corp. unit signed a notice of acceptance to take about a 16% interest in foreign participation in unitized development of three large oil fields in the Caspian Sea off Azerbaijan. Similar acceptances were expected at presstime last week from other major companies involved in the development project.