Azerbaijan, Baku, Dec. 25 /corr. Trend V.Sharifov / Foreign participants of the joint ventures Shirvan Oil and Anshad Petrol, which produce oil on onshore fields in Azerbaijan appealed to the SOCAR (State Oil Company of Azerbaijan), with a proposal to transfer JV to PSA, SOCAR said.
"Currently, talks are being carried out. Possibly the PSA will be signed next year," the same source said.
Shirvan Oil commenced its activity on Sep. 1, 1997. The parties to the JV, which develops Kirovdag field, are: SOCAR - 49% and British Caspian Energy Group - 51%.
Anshad Petrol produces oil on contract areas of Neftchala, Khili and Babazan.
Anshad Petrol JV was created in 1993 by SOCAR and Atilla Dogan Petrol of Turkey on the basis of former OGEU Neftechalaneft. In 1994-1996 Anshad Petrol was operated by Atilla Dogan Petrol, but since 1997 this duty was undertaken by SOCAR. In 1995 Land and General Berhad joined the project through purchasing 17.15% of Atilla Dogan Petrol's stock.
Currently the parties to the JV are: SOCAR - 51%, Rusneft Neftchala Investment Limited - 31.85% and Malaysian Land and General Berhad - 17.15%.
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