SOCAR plans to sign an agreement with Petronas to conduct research at one of the structures in Azerbaijan's Caspian sector in the near future, he said.
"This concerns research at territories located in North Absheron and includes the Goshadash structure and surrounding territory. If we manage, the agreement will be signed in the course of September," he said.
Under the agreement, Petronas will perform all research, including seismic surveying, at its own expense. "If the results are positive, then negotiations may begin with this company on concluding a development contract," Yusifzade said.
Petronas is currently a participant in the Shah Deniz project with a 15.5% interest.
Goshadash is located 15 kilometers off the Absheron Peninsula in waters 10-50 meters deep.
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