Caspian Oil & Gas Conference - SOCAR intends to conclude new agreement on ACG SOCAR intends to conclude new agreement on ACG

SOCAR (State Oil Company of Azerbaijan) has announced its intention to conclude a new agreement with current partners to develop the block of oil and gas fields "Azeri-Chirag-Guneshli" (ACG) in the Azerbaijani sector of the Caspian Sea, SOCAR said Oct. 5.

This statement was made during a meeting of representatives of SOCAR and SOFAZ (State Oil Fund of Azerbaijan) with representatives of the partner-companies developing ACG - BP, Statoil, Exxon Mobil, Shevron, Itochu, INPEX, TPAO and ONGC Videsh.

The sides had an extensive exchange of views on the current and future development of the field.

"The representatives of BP and other partners appreciated the stable investment and business situation in Azerbaijan,