AZERBAIJAN - The Inam JV.

APS Review Gas Market Trends, July, 2000

The fifth PSA venture led by BP Amoco, with the deal signed in 1998 by President Aliyev, this offshore block is said to contain 2.2 bn barrels of oil and investment by the JV is expected to reach up to $3 bn. The partners are BP Amoco (25%), Shell (25%) and Socar (50%).

BP Amoco is shortly to begin drilling its first of two exploration wells which is to be completed by end-2000. The second well should be completed before end-2001. BP Amoco will use the semi-submersible rig Dada Gorgud. In March 2000, it contracted Racal for a 225 sq km geological study of the Inam field.

Returning to Azerbaijan after almost 90 years, Shell in early 2000 got the 25% stake in the Inam venture half from Monument Resources (Caspian), a unit of Lasmo, and half from Central...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.