Total dives into Caspian block

摘要

Total has struck a deal with Azerbaijan's stateowned SOCAR to take a 60% stake in a licence in the Absheron Block in the Caspian Sea. Total will be the operator of the Absheron Block during the exploration phase, while for the development phase Total and SOCAR will form an operating company to manage the block, in which SOCAR will hold the remaining 40% stake.