Conoco says shallow-water Guneshli doesn't look profitable

Nov 10, 1999 01:00 AM

The American oil company Conoco has closed its Conoco Khazar Ltd office in Baku. This step was taken after talks with the State Oil Company of Azerbaijan (SOCAR) to rehabilitate and develop the shallow-water section of the Guneshli deposit yielded no results. The U.S. company said it was unprofitable for it to participate in the project.

Source: KOMMERSANT via NewsBase
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