Socar is looking for an agreement to 2060 when the existing agreement runs out in 2024.
Socar is also insisting on separate and early development of a gas layer under the ACG oil reservoir.
The ACG oilfield, which is the mainstay of Azerbaijan’s energy sector, has vast resources that can profitably be exploited for several decades, according to Socar vice-president and chief geologist Xoshbakht Yusifzade.
The
