ConocoPhillips to Quit Turkmen Caspian Talks, Nefte Compass Says

ConocoPhillips (COP) has decided to close its Turkmenistan office and stop negotiations for access to Block 19 in the Caspian Sea, Nefte Compass said, citing unidentified company officials speaking in Baku, Azerbaijan.

Difficulties with the Central Asian “geopolitical environment” and over exports of potential natural-gas output led ConocoPhillips to pull out of the Turkmen talks, which it was conducting with partner Mubadala Oil & Gas of Abu Dhabi, Nefte Compass said, citing the same people.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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