SOCAR and Petronas sign memorandum of understanding

Baku. 17 September. REPORT.AZ/ The State Oil Company of Azerbaijan Republic (SOCAR) and Malaysian Petronas Company have signed a memorandum of understanding on the exploration, development and production of hydrocarbons from Goshadash prospective structure.

Report informs referring to the SOCAR, under memorandum, the companies should agree in a six months period on the basic commercial principles and conditions for Production Sharing Agreement ("PSA").