Dry holes off Azerbaijan leave ExxonMobil working on exit plan

摘要

ExxonMobil is scaling back involvement in Azerbaijan after a series of offshore dry holes and is negotiating an exit from remaining exploration obligations there,the oil giant has confirmed.That could involve sizable cash payments to Azeri state oil company Socar in lieu of required follow-on wells to costly dusters drilled at Nakhchivan in early 2002 and at Zafar-Mashal last September.