AZERBAIJAN - The Oguz JV.A 227 sq km offshore block south of Nest Daslari and Guneshli and north of Tagiev, Oguz was originally said to contain 290m barrels of oil and 685 BCF BCF Billion Cubic Feet BCF Bioconcentration Factor BCF British Chess Federation BCF British Coatings Federation BCF Breast Cancer Fund BCF Bank Credit Facility BCF Bulked Continuous Filament BCF British Cycling Federation BCF Boeing Converted Freighter of gas, with the JV held 50-50 by ExxonMobil and Socar. But ExxonMobil in mid-2001 decided to abandon the block after its first well was stopped with "no commercial hydrocarbons hydrocarbons (hīˈ·drō·kärˑ·b  nz),n. ". This block had been taken up by Mobil in 1997. During the Soviet era two wells were drilled and both proved water-wet. Mobil paid a $10m signature bonus and agreed to a $10m production bonus and an incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. reserves bonus of $2.5m per 100m barrels. Exxon acquired Mobil in 1999/00. In June 1998, Mobil was invited by Turkmenistan to negotiate the Serdar field, which is hotly hot·ly adv. In an intense or fiery way: a hotly contested will. Adv. 1. hotly - in a heated manner; "`To say I am behind the strike is so much nonsense,' declared Mr Harvey heatedly"; "the disputed by Azerbaijan where it is called Kyapaz. Mobil then said it would not begin work until the two states reached an agreement over its ownership. |
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