A contract for the largest oil complex offshore Azerbaijan could lead to billions of dollars in investments and billions more in oil barrels, analysis finds. British energy company BP led a consortium of international partners in extending a contract with the Statoil Oil Company of the Azerbaijan Republic for the Azeri-Chirag-Gunashli field in the Azeri waters of the Caspian Sea. Since the initial production sharing contract was signed in 1994, the oil field has produced more than 3 billion barrels of oil and delivered more than $125 billion in net profits to Azerbaijan. Under the terms of new contract, SOCAR takes another 11 percent stake in the development to 25 percent and the international partners pay $3.6 billion to an […]