Azerbaijan, Baku, Feb. 24 / Trend , V.Sharifov/
The French Total company and State Oil Company of the Azerbaijan Republic (SOCAR) will sign a partner sharing agreement to develop the Absheron Offshore Gas Unit in Baku on Feb. 27, an oil industry source in the country said on Feb. 24.
Foreign companies stopped drilling at the unit after uncovering an unattractive quantity of hydrocarbons.
Total is familiar with the unit as a participant in a project with SOCAR and ChevronTexaco.
After drilling a reserve well, the field was considered commercially unattractive.
Gaz De France Suez is also negotiating to receive a share in the contract.
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