Statoil signs offshore Caspian exploration accord

Offshore staff

BAKU, Azerbaijan – Statoil and SOCAR have signed a memorandum of understanding (MoU) to jointly explore and develop the Zafar-Mashal structures in the Azerbaijani sector of the Caspian Sea.

The MoU defines the framework within which both companies will examine opportunities, conduct negotiations, and agree on terms and principles during the 12 months from the date of signing.

4/9/2013