Azerbaijan, Baku, Feb. 9 / Trend , V.Sharifov/
Gaz De France Suez is negotiating a share purchase in the production sharing agreement (PSA) on the Azerbaijani offshore Absheron gas block. The PSA will be signed between the State Oil Company of the Azerbaijan Republic (SOCAR) and Total in the near future, a source said on Feb. 9.
SOCAR and Total have coordinated almost all issues on the Absheron PSA.
The PSA is expected to be signed in Baku by the end of February.
Foreign companies stopped studying the Absheron block a few years ago as little hydrocarbon reserves were discovered. Total is familiar with Absheron, as the company was party to a project with SOCAR and ChevronTexaco in the area. After a well was drilled, the field's reserves were announced commercially unattractive.
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