SOCAR, BP extend ‘Contract of the Century’ until

SOCAR, BP extend ‘Contract of the Century’ until 2050

21:18 23 December 2016 Read: 1826

SOCAR, BP extend ‘Contract of the Century’ until 2050

The State Oil Company of Azerbaijan (SOCAR) and BP-operated Azerbaijan International Operating Company (AIOC) signed a letter of intent (LOI) December 23 for the future development of the Azeri-Chirag-Gunashli (ACG) field in the Azerbaijan sector of the Caspian Sea.

The agreement will cover the development of the field until 2050.

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