- Back in Town
Conoco will be acquiring
the remaining 20 percent interest in the Zafar-Mashal exploration
block in the Azerbaijan sector of the Caspian Sea, subject to
ratification by the Azerbaijan Parliament. The contract for Zafar-Mashal
was originally signed between Exxon and SOCAR [State Oil Company
of Azerbaijan] in the Senate Building in Washington, D.C. on
April 27, 1999. It was the 18th contract that Azerbaijan signed
with international oil companies. Since then, Exxon has merged
to become ExxonMobil. SOCAR has a 50 percent share of the project
and ExxonMobil, the operator, has 30 percent.
The deepwater offshore exploration block includes both the Zafar
and Mashal prospective structures (previously known as D-9 and
D-38). It is located about 75 miles (110 km) southeast of Baku
in the Caspian at water depths ranging from between 1,800 feet
(550 m) to 2,900 feet (900m). The block covers an area of about
250 square miles (640 sq km).
Conoco had recently closed their office in Baku in the fall of
1999 after not being able to come to agreeable terms in negotiations
with SOCAR on the further development of the shallow-water Gunashli
field. While in Azerbaijan, Conoco had been involved with several
humanitarian and cultural projects including a rehabilitation
project for children suffering from Thalassemia, a rare chronic
genetic blood disorder.
(8.1) Spring 2000.
© Azerbaijan International 2000. All rights reserved.
Back to Index AI 8.1 (Spring
AI Home |