BP says it signs Caspian Sea gas deal with Azerbaijan

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British oil giant BP said on Thursday it had signed a 30-year deal with Azerbaijan's state company Socar for joint exploration and production of a big Caspian Sea gas field.

"BP and Socar announced today they had signed a new production sharing agreement on joint exploration and development of the Shafag-Asiman structure in the Azerbaijan sector of the Caspian Sea," said in a statement.

© 2010 AFP

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