Shell to invest in Azeri offshore oil field

Jul 28, 2000 02:00 AM

Anglo-Dutch Shell plans to invest $ 1 bn in the development of Inam offshore oil field in Azerbaijan's sector of the Caspian Sea, Shell Vice-President for the Caspian region Gavin Graham said. In March, Shell purchased 25 % in Inam project from the United Kingdom-registered Monument Oil.
The oil reserves of Inam are estimated at about 100 mm tons. The full-scale development of the field is said to require $ 1.5 bn of investment. BP Amoco holds another 25 % share in Inam, while the remaining 50 % is owned by Azerbaijan's state oil company Socar.

Source: Bridge News via Newspage
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