LUKOIL studying new exploration blocks in Azerbaijan sector of Caspian Sea

Baku. 24 January. REPORT.AZ/ Russian company LUKOIL is studying new exploration blocks in the Azerbaijani and Kazakh sectors of the Caspian Sea shelf, company president Vagit Alekperov said.

Report informs citing Interfax that Alekperov spoke to journalists following his meeting with Azerbaijani President Ilham Aliyev on the sidelines of the World Economic Forum in Davos.

"We are considering the new exploration blocks in Azerbaijan, working jointly with SOCAR. I do not want to specify which blocks exactly are under consideration because the work is at its early stage," he said.

"We are interested in developing in the Caspian Sea and are negotiating with Kazakhstan. We have signed documents on Zhenis block and are preparing materials for establishment of a joint enterprise. Preparation works on the Kazakh shelf are currently underway. We would like to use the best practices not only in Russia but also in Azerbaijan and Kazakhstan," Vagit Alekperov said.