ECONOMY


SOCAR, Petronas sign memorandum of understanding

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Baku, September 16, AZERTAC

The State Oil Company of Azerbaijan (SOCAR) and Malaysian Petronas Company have signed a memorandum of understanding on the exploration, development and production of hydrocarbons from Goshadash prospective structure.

Under memorandum, the companies should agree – in a six months` period – on the basic commercial principles and conditions for Production Sharing Agreement ("PSA").

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