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BP, SOCAR Sign PSA

BP, SOCAR Sign PSABP, SOCAR Sign PSA

BP and the State Oil Company of the Republic of Azerbaijan (SOCAR) signed a new production sharing agreement (PSA) to jointly explore for and develop potential prospects in the shallow water area around Absheron Peninsula in Azerbaijan sector of Caspian Sea, Energy Global reported. The acreage features water depths of up to 40 meters with potential reservoir depths of 3000-5000 meters.

Financialtribune.com