Azerbaijani President approves new oil agreement

President of Azerbaijan Ilham Aliyev has signed into law the bill "On Permission to Accept and Confirm, Implement a Risk-Service Agreement for the Rehabilitation and Development of a Block, Including the Buzovna-Mashtagha, Gala and Zira Onshore Oil Fields in the Republic of Azerbaijan."

According to e-huquq.az, the Risk-Service Agreement was inked between the state oil company SOCAR and GL International LTD on December 14, 2021.