BUSY WEEKEND FOR WESTERN OILMEN IN AZERBAIJAN.

Managers of the French oil company Elf-Aquitaine and the State Oil Company of Azerbaijan (SOCAR) conferred in Baku over the weekend, finalizing a contract to develop the Lenkoran-Deniz oil field on Azerbaijan’s Caspian shelf. The field’s estimated reserves are 50 to 60 million tons. The final production-sharing contract is due to be signed during Aliev’s upcoming official visit to France. Elf-Aquitaine is already active in Azerbaijan as part of the consortium that recently signed a contract to develop the Shah-Deniz oil and gas fields. (International Petroleum Agency, Turan, UPI, November 11)

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