Azerbaijan, Baku, Feb. 27 / Trend , S.Aliyev /
The State Oil Company of the Azerbaijan Republic (SOCAR) and French Total company signed a production sharing agreement to develop the giant Absheron Offshore Gas Unit in Baku on Feb. 27. SOCAR received 40 percent of the project's stakes and Total - 60 percent.
In the exploring period, Total company will finance SOCAR's shares.
The Absheron Unit is 100 kilometers of Baku and in 500 meters of water depth.