Bp Amoco (b)

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Background 0 BP Amoco investment of 34.1% in AIOC developing oil fields 0 0 0 0 0 0

in the Azerbaijani Sector. Completed $ 1.9 Billion (Escalated from $1 Billion) Early oil Project ± 100,000 BPD. BP ± General Corporate Finance. Amoco ±Finance through two multilateral Agencies. Full Field Development project comprised of three stage. Investment needed of about $ 8 - $ 10 Billion. Estimated Reserves of 4.5 to 5 Billion Barrels. Stage 1 capital expenditure to start within a year.

Background Cont͙ 0 9ewly Formed Azerbaijan. 0 9ew & Untested Constitution. 0 Declining Oil Reserves (Reserve Risk) ± 70% 0 0 0 0

8%. Political Instability, High Unemployment Rate, Oil dependent Economy. 9ot so peaceful neighbors (Russia & Iran). Geo Politically Challenging Territory. MEP (Main export Pipeline) Feasible only when proven reserves of 6 billion Barrels. Ã&'(›')''#* )
  

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