Socar Criticizes RWE for Exploration Delays at Caspian Structure

Socar will give German co. more time to explore Nakhchivan structure in Caspian Sea after considering taking structure back, First VP Xosbaxt Yusifzada says at energy conference today in Baku. * RWE general manager for new ventures Martin Wellens says: “With regard to the entire project cycle, we are still in a good shape” * RWE to complete 3D seismic reprocessing within next weeks, analyze data over ~2 mos., discuss next steps with Socar

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editors responsible for this story: Torrey Clark at tclark8@bloomberg.net; Hellmuth Tromm at htromm@bloomberg.net Bruce Stanley

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