GROUP INKS PACT TO EXPLORE KAZAKH CASPIAN SEA
Eight major integrated petroleum companies have signed an agreement forming a group to conduct an exploration program in Kazakhstan's portion of the Caspian Sea. Group member Mobil Corp. said the agreement includes a major geophysical study that will be carried out through 1996. After that, group members will be eligible to select blocks for drilling and development in a 103,000 sq km area. The remaining area then will be made available for open licensing to other companies.