The State Oil company of Azerbaijan Republic (SOCAR) and the company UGE-Lanser PTI have signed a contract on rehabilitation, development and sharing of production at the land-based block of deposits Balakhani -Sabunchi -Ramani and Kyurdakhani, reports Trend.
The area covered by the contract is 16.14 square km. The contract is for 25 years with the possibility of extending it another 5 years. The Lanser company has a 75% share and SOCAR - 25%.
