Azerbaijan, Baku / corr. Trend I.Alizade / The Press-Service of Milli Majlis [Azerbaijani Parliament] stated that on 6 March the Parliament will consider the law draft on Production Sharing Agreement (PSA) signed with Russian "RussNeft" on rehabilitation and development of onshore field "Hovsani-Zikh".
At the beginning of November 2006, the Russian company had signed a contract with the State Oil Company of Azerbaijan (SOCAR) on joint development of "Hovsani-Zikh". The SOCAR possessed 25% share and "RussNeft" - 75% in the contract. According to the contract, the Company should increase the volume of the oil production in "Hovsani-Zikh" by 1.5 times after two years.
In addition, on 6 March the Parliament will discuss the report of the Ombudsman of Azerbaijan, Elmira Suleymanova, dedicated to the results of 2006. Moreover, the meeting of the Parliament will focus on law draft of the World Telecommunication Union "On postal payments"; issue of confirming a number of agreements and laws regarding GUAM ( Georgia, Ukraine, Azerbaijan and Moldova).