bp and SOCAR (The State Oil Company of Azerbaijan Republic) are discussing the terms of the British company's participation in the development project of the "Karabakh" oil field, Bakhtiyar Aslanbayli, bp's Vice President for the Caspian Region and operator of the Shah Deniz project, told journalists, APA-Economics reports.
The Vice President recalled that in September last year, bp and SOCAR signed a memorandum of understanding (MoU), announcing bp's intention to join agreements on two development and exploration blocks in the Azerbaijani sector of the Caspian Sea. The first block is the "Karabakh" oil field, and the second is the Ashrafi-Dan Ulduzu-Aypara (ADUA) area.
