Publication: Monitor Volume: 2 Issue: 108

Yesterday in Baku, representatives of seven oil companies and governments signed a contract for developing the Shah-Deniz oil and gas field on Azerbaijan’s Caspian shelf. The investment amounts to at least $ 4 billion for the 120 square kilometer field, whose estimated reserves are at least 100 million tons of oil, 200 million tons of gas condensate, and 400 billion cubic meters of natural gas. British Petroleum and Norway’s Statoil acting as a tandem hold 51 percent of the shares, 25.5 percent each; France’s Elf Aquitaine, Russia’s LUKoil, Iran’s Oil Industries Engineering and Construction, and the Azerbaijani State Oil Company hold 10 percent each, and Turkey’s state oil company TPAO 9 percent. (Western agencies, Petroleum Information Agency, June 4)

The Monitor is a publication of the Jamestown Foundation. It is researched and written under the direction of senior analysts Jonas Bernstein, Vladimir Socor, Stephen Foye, and analysts Ilya Malyakin, Oleg Varfolomeyev and Ilias Bogatyrev. If you have any questions regarding the content of the Monitor, please contact the foundation. If you would like information on subscribing to the Monitor, or have any comments, suggestions or questions, please contact us by e-mail at, by fax at 301-562-8021, or by postal mail at The Jamestown Foundation, 4516 43rd Street NW, Washington DC 20016. Unauthorized reproduction or redistribution of the Monitor is strictly prohibited by law. Copyright (c) 1983-2002 The Jamestown Foundation Site Maintenance by Johnny Flash Productions