In Southern Gobustan and the Pre-Caspian region, the commercial flows of oil and gas of the Umbaki and Siazan
monoclines are related to the Maykop, with thickness of up to 1,800 m.
Planning of the towns of Naftalan, Mingachevir, Gusar, and Goychay started this year; plans of the towns of Zardab, Zagatala, Siazan
, Yardymly, Neftchala, and Balakan are under development; works on developing Ganja and Sumgayit cities' plans are being finalized, according to him.
OTC Bulletin Board: PUMX), of Dallas, Texas, announced today that on December 7, 1999, it entered into a Memorandum of Understanding ("MOU") with the State Oil Company of the Azerbaijan Republic ("SOCAR") for the rehabilitation, exploration, development and production of petroleum in the block including the Siazan
oil field and adjacent areas in the Azerbaijan Republic.