Muradkhanli closing down?

The cloud of rumors surrounding the Ramco-operated "Muradkhanli" field has been further enlarged, as Russian ITAR-TASS news agency has quoted the Ramco head office as saying that drilling operations on the field have been suspended, while Ramco is considering leaving Azerbaijan.

A source from the Ramco Baku office told AssA-Irada Tuesday that the talks with SOCAR are underway and it is premature to talk of the closure of the project. But according to a SOCAR source, the project will most likely be closed.

Ramco has long sold its interest in the Contract of the Century and only held a 50% stake in the "Muradkhanli" project. Besides, the company has 1.55% interest in the BTC group of sponsors.*