Rosneft and SOCAR agree to establish a extraction joint venture on a parity basis.

NK "Rosneft" (MOEX: ROSN) and Azeri state company SOCAR agreed to establish a joint venture (JV) for projects for exploration and production of oil and gas in various jurisdictions, including Azerbaijan and Russia.

The corresponding agreement was signed by Igor Sechin, the head of "Rosneft", and Rovnag Abdullayev, the SOCAR President, in the presence of the Russian President Vladimir Putin during the SPIEF.

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