Baku. Vusal Nabiyev – APA-Economics. SOCAR and Malaysian PETRONAS (E&P) OVERSEAS VENTURES SDN. BHD have signed a Memorandum of Understanding on exploration and development of bloc, which includes Goshadash perspective structure, and hydro carbon production in Azerbaijan sector of the Caspian Sea, SOCAR told APA-Economics.
According to MoU, the companies are to agree key commercial principles and conditions of the Production Sharing Agreement on the project within six months.