(MENAFN) Azerbaijani state media reported that Rosneft, Russia's top oil producer, has signed a joint-venture agreement with State Oil Company of Azerbaijan (SOCAR), Xinhua reported.
According to the reports, the two companies agreed to create a joint venture on exploration and production of oil and gas in Azerbaijan, Russia and a third country.
"The deal will boost both sides on selection and implementation of large- scale projects in Siberia, the Caspian Sea, as well as create opportunities for both companies to enter new markets," SOCAR's CEO said.
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