Reality may yet burst Baku's oil expectations
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04/12/1997
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Financial Times (London)
The partners in the first foreign exploratory project in Azerbaijan are dealing with a multi-million dollar question. Should they drill an expensive third exploratory well in their offshore Karabakh field, as the government is asking them, or abandon the project after the first two wells failed to strike oil?. So far, no foreign consortium conducting exploration in Azerbaijan has discovered oil in large quantities.