Exxon Mobil is the operator for the Production Sharing Agreement
(PSA) for exploration of an offshore block in the Azerbaijan
sector of the Caspian Sea. Exxon Mobil's Executive Vice President
Bill Scoggins signed the contract along with Natig Aliyev, President
of SOCAR (State Oil Company of the Azerbaijan Republic).
The block contains the Savalan, Dalga, Lerik-Daniz and Janub
prospects, covering an area of approximately 316 square miles
(850 sq km). Exxon Mobil has a 30 percent interest in the block,
SOCAR holds a 50 percent interest, and the remaining 20 percent
has yet to be awarded. The PSA calls for a seismic program and
two exploration wells to be completed over the first three years
of the agreement.
Map: Click to enlarge
Scoggins, ExxonMobil's Executive Vice President President signs
with Ilham Aliyev, Executive Vice President of SOCAR for Lerik.
From Azerbaijan International (7.2) Summer1999.
© Azerbaijan International 1999. All rights reserved.
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AI 7.2 (Summer 99)
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