BP in Azerbaijan
A new agreement for BP and Socar.
BP and SOCAR (the State Oil Company of the Republic of Azerbaijan) announced today they have signed a memorandum of understanding (MOU) to jointly explore and develop the Shafag and Asiman structures in the Azerbaijan sector of the Caspian Sea.
BP is already a big player in Azerbaijan and they are of course the company that manages the BTC pipeline. So this is a natural development for the two companies that have been working together since 1992.
