Milli Majlis committee endorses bill on Absheron offshore block

A relevant committee of the Milli Majlis has recommended that a bill approving the revised agreement on the Absheron offshore block be submitted to a plenary session.

According to Report, the document was discussed today at a meeting of the parliamentary Committee on International Relations and Interparliamentary Ties.

The bill provides for the adoption and approval of the agreement on the exploration, development and production sharing of the Absheron offshore block in Azerbaijan's sector of the Caspian Sea, as well as authorization for its implementation.

The agreement, concluded between Azerbaijan's State Oil Company (SOCAR), TotalEnergies EP Absheron B.V., SOCAR Absheron and ADNOC International ProjectCo 1RSC Limited, has been amended and restated.