Putin: Russia and Azerbaijan will implement perspective projects in the Caspian Sea

Baku. 27 September. REPORT.AZ/ "We hope that Russian and Azerbaijani companies will engage actively in implementation of perspective projects in the Caspian Sea, primarily in the sphere of transport, cargo transportation, oil and gas production, environment and naturally the bioresources," Russian President Vladimir Putin said speaking at the session of the Azerbaijan-Russia interregional forum in Baku, Report informs citing TASS.

Putin reminded that Russian energy companies work successfully in the Azerbaijani market. In particular, the Russian president mentioned the work of Rosneft jointly with the state corporation of Azerbaijan which will soon start exploration and development of the oil and gas field.

"LUKOIL invested nearly $4 mln in energy projects of Azerbaijan, while Transneft, our leading monopoly in oil transportation, ensures the reliable transit of Azerbaijani oil for export by the Baku-Novorossiysk pipeline," Putin said.

"The convention on the status of the Caspian Sea opened up new opportunities for mutually profitable cooperation between our countries. This is, undoubtedly, a breakthrough solution," Putin said.

All the same, the Russian President noted that much is yet to be done for the comprehensive implementation of this agreement.