Total signs deal for offshore Azeri Absheron block

摘要

London—French major Total has signed an exploration, development and production agreement with Azerbaijan’s state-owned Socar for the giant offshore Absheron block in the Caspian Sea, Total said February 27.Total will be the operator of the Absheron block during the exploration phase, the company said. For the development phase, Total and Socar will form an operating company with Total holding a 60% interest and Socar 40%.