MARKETS

BP sells half of Azerbaijan project to Lukoil

BP will sell 25% of its participating interest in the Azerbaijani Abershon Peninsula exploration project in the Caspian Sea to Russia's Lukoil.

Jonathon Davidson

Baku, the capital city of Azerbaijan

Under the contract agreement, BP will remain operator of the Abershon Peninsula exploration program — dubbed SWAP — production sharing agreement during the exploration period, and hold a 25% interest....

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