Azerbaijan`s SOCAR Seeks 25 pct Share in Deal with BP on Oil Fields

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Azerbaijan’s state energy firm SOCAR plans to more than double its share in a new production sharing agreement with BP for the development of the country’s biggest oilfields. SOCAR First Vice-President Khoshbakht Yusifzadeh told reporters on Thursday.
Yusifzadeh said that under a new draft agreement SOCAR’s share would rise to 25 percent from 11.65 percent. The shareholders in the consortium include BP. SOCAR. Chevron . Inpex. Statoil. ExxonMobil. Turkish Petroleum. Itochu and ONGC Videsh.