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Azerbaijan's SOCAR seeks 25 pct share in deal with BP on oil fields
September 14, 2017 / 4:54 AM / 2 months ago

Azerbaijan's SOCAR seeks 25 pct share in deal with BP on oil fields

BAKU, Sept 14 (Reuters) - Azerbaijan’s state energy firm SOCAR plans to more than double its share in a new production sharing agreement with BP for the development of the country’s biggest oilfields, SOCAR First Vice-President Khoshbakht Yusifzadeh told reporters on Thursday.

Yusifzadeh said that under a new draft agreement SOCAR’s share would rise to 25 percent from 11.65 percent. The shareholders in the consortium include BP, SOCAR, Chevron , Inpex, Statoil, ExxonMobil, Turkish Petroleum, Itochu and ONGC Videsh. (Reporting by Nailia Bagirova; Writing by Olzhas Auyezov; Editing by Christian Schmollinger)

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