SOCAR, LUKOIL ink MoU
BAKU, Azerbaijan, Jan. 23
Azerbaijan’s state oil company SOCAR and Russia’s LUKOIL oil and gas company have signed a memorandum of understanding in Davos, Trend reports referring to SOCAR.
On Jan. 22, SOCAR and LUKOIL signed a memorandum of understanding on the Nakhchivan prospective structure in the Azerbaijani sector of the Caspian Sea, as well as on the exploration block covering the Caspian-Guba and Goshadash prospective structures in the shallow waters of the sea.
“The memorandum of understanding was signed by SOCAR President Rovnag Abdullayev and LUKOIL President Vagit Alekperov in Davos,” the company said.
Nakhchivan prospective structure is located in the deepwater part of the Azerbaijani sector of the Caspian Sea, 90 kilometers south of the Absheron Peninsula. In the area of the structure, the depth of the sea varies within 120-750 meters. The structure was discovered in 1960 as a result of seismic survey.
Goshadash prospective structure is located in the Azerbaijani sector of the Caspian Sea, 20 kilometers northeast of Sumgayit city. In 1957-1977, seismic surveys were carried out in the area.