PLANS ADVANCE FOR FIELD DEVELOPMENT OFF AZERBAIJAN

Three more groups led by major companies have agreed to jointly develop three large Azerbaijani oil fields in the Caspian Sea. The acceptances virtually assure that Guneshli, Chirag, and Azeri fields will be developed under terms of a consolidation plan disclosed by State Oil Co. of the Azerbaijan Republic (Socar). Socar intends to unitize the fields for development as a single contract area governed by a single production sharing agreement (PSA). A management committee including all

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