Academic journal article The Middle East Journal

Chronology: Petroleum Affairs

Academic journal article The Middle East Journal

Chronology: Petroleum Affairs

Article excerpt

1999

Apr. 18: The Baku-Supsa oil pipeline opened to transport oil from the Caspian Sea to the Black Sea. [4/19 FT]

Apr. 22: Edison, an independent energy company controlled by the Italian Montedison Group, reached an $8 billion agreement with In Salah Gas, a joint venture between Algeria's SONATRACH and BP Amoco, for a 15-year supply of Algerian natural gas. [4/23 1711

Apr. 27: In Washington, DC, along the sidelines of the North Atlantic Treaty Organization (NATO) conference, Azerbaijani President Heydar Aliyev signed three product-sharing agreements for three separate production projects with Exxon, Mobil, and Moncrief Oil International. The combined value of the contracts was estimated to be $10 billion. Each contract allowed each US company to own a 30 percent share of its project, with Socar, the Azerbaijani state oil company, owning 50 percent. The remaining 20 percent stake in each project would be open to bidders. [4/28 FT, 4/29 FBIS]

May 16: BG Egypt, the UK-based gas exploration and distribution company, announced that it had discovered an off-shore gas field near the Nile delta. …

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