Frontera in strategic alliance with Baker Hughes in Azerbaijan

Jul 29, 1997 02:00 AM

July 15, 1997 Frontera Resources Corporation has formed a strategic alliance with Baker Hughes Solutions to develop oil and gas exploration and development opportunities in the onshore Kura Basin of Azerbaijan. Frontera will serve as operator.
"Baker Hughes' technical abilities and Frontera's project development skills complement each other," said Steve C. Nicandros, Frontera's president and CEO. "Frontera is already in discussions with the State Oil Company of the Azerbaijan Republic (SOCAR) regarding the development of onshore projects. Teaming up with Baker Hughes will permit us to expand our horizons."
A centrepiece of the alliance between Baker Hughes and Frontera will be comprehensive joint technical studies in Azerbaijan's onshore Kura Basin. "Our new alliance emphasises building an advanced and innovative technical approach to this region of the country together with SOCAR. In this manner, we believe we can develop significant value for the country," observed Nicandros.
Frontera is the operator of a 1.4-million-acre Kura Basin block in Georgia, on that nation's border with Azerbaijan, straddling the route of the early oil pipeline built by the Azerbaijan International Oil Company (AIOC) to the Black Sea.

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