SOCAR and LUKOIL sign an agreement on joint exploration


January 23, Fineko/abc.az. On 22 January SOCAR and LUKOIL signed the Memorandum of Understanding on cooperation in the exploration block that includes prospective structure Nakhchivan and shallow water structures Goshadash and Caspian Guba.

ABC.AZ reports with reference to SOCAR that the Memo was signed by SOCAR head Rovnag Abdullayev and LUKOIL president Vagit Alekperov.

Prospective structure Nakhchivan is located 90 km from the Absheron Peninsula. The structure was discovered in 1960 following the seismic survey. Goshadash structure is located in the north-eastern part of the Absheron Peninsula, 20 km from the city of Sumgait. Seismic surveys have been conducted on this structure since 1951.