The issue was put to vote and adopted.
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New oil agreement approved in Azerbaijan
14 June 2016
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Today, a draft law on adoption and appoval of oil contract among SOCAR, Zenit Aran Oil Company Limited and SOCAR Joint Oil Company on production sharing, restoration, development and exploration at the block that includes Muradkhanli, Jafarli and Zardab oil fields.
The agreement was signed for 25 years and may be extended for 5 years. According to agreement, 95% of workers, 90% of engineers must be Azerbaijanis after five years.
The issue was put to vote and adopted.
The issue was put to vote and adopted.
