AZERBAIJAN - Nakhichevan JV.

ExxonMobil and Socar are also 50-50 partners in the offshore Nakhichevan block. But in January 2002 ExxonMobil decided to abandon the first exploration well, drilled to a depth of 6,746 metres into the Pereryv suite, because of very poor results.

Socar had originally said this block contained 750m barrels of oil and about 85 BCM of gas. Total investment in this was to be $2 bn.