SOCAR and Petronas signed MOU on Goshadash Energy
The State Oil Company of Azerbaijan (SOCAR) and the Malaysian company Petronas signed the Memorandum of Understanding on the exploration, development and hydrocarbons production on the field that is part of potentially good structure Goshadash in the Azerbaijani sector of the Caspian Sea.
SOCAR informed that under the terms of the MOU within 6 months the companies should agree the basic commercial principles and conditions of the PSA contract for this project.
Structure Goshadash is located in the northwestern part of the Absheron archipelago in 15 km from the shore. The sea depth is 10-50 m in this area.