Lot Essay
The 19th-century Caspian Oil Industry, Balkhany is located in the Baku municipality on the Absheron Peninsula, where the largest oil fields known at the time were located. Extensive exploitation began in the 1870s, and by the end of the century Baku had become the global centre of the oil industry. The binding records the presentation of this album 'to shareholder Petr Petrovich Muromtsov'.