Preparation to conclusion of PSA on onshore field of Azerbaijan in progress

Experts of State Oil Company of Azerbaijan (SOCAR) have been working on the production sharing agreement, which envisages development of onshore fields Muradkhanly-Jafarli-Zardab located 250 km southwest of Baku, a source from SOCAR told Turan’s correspondent.

SOCAR’s partner in the project is the Canadian Zenith Energy Ltd company.

Zenith Energy Ltd has founded Zenith Aran Oil Company Ltd, which will carry out operations on the onshore bloc.

According to the preliminary estimates, SOCAR’s share in the company will be 20%, while Zenith Energy Ltd will have 80%.—0--

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