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LUKOIL's Share in Zigh Field Project May Be Sold
President of Lukoil, Mr. Vahid Alakparov has proposed to either increase LUKoil's share in the Zigh field project or authorize the company to sell its share of oil from this field abroad instead of the domestic market, Assa Irada news agency reported.
A source from SOCAR said Azerbaijan is not concerned about LUKoil's intentions to sell its share in the project. Baku will support its national interests within this project.
Under an agreement signed in 2002, SOCAR and LUKoil hold a 50% share each in the Zigh field development. Projected investment required for this project is $300 million.
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