Baku, Moscow eye new joint project on Caspian offshore zone

Russia and Azerbaijan are currently exploring the possibility of launching a new joint project on the Caspian Sea's offshore zone, Russian Deputy Prime Minister Alexander Novak has said.

“There are several new projects under consideration, particularly in the Caspian offshore zone, for possible joint implementation,” Novak told RT, News.Az reports.

He highlighted the long-standing cooperation between Russia and Azerbaijan in the gas and oil sectors, noting that joint projects are already underway.

“In particular, a project known as Shah Deniz, where our Russian company Lukoil holds almost 20%, has invested a large amount. We have projects related to the supply of oil and oil products,” the deputy premier added.

News.Az