Amoco Gets OK for Oil Venture With Soviets
<i> From Associated Press</i>
CHICAGO —
Amoco Corp. has received permission to work with the Soviet Union to develop an oil field in the Caspian Sea off the Soviet republic of Azerbaijan.
Amoco said Tuesday it had received official notification this week, two weeks after Soviet news reports said Amoco would help develop the field.
The oil field was discovered in 1987, but production has been delayed by financial constraints. Amoco’s subsidiary, Amoco Eurasia Petroleum Co., will help develop wells and pipelines, but exact details have not been arranged, said Robert L. Blanton, chairman of Amoco Eurasia.
