Rosneft enters Azerbaijan with Socar deal

摘要

Moscow—Russia’s state-controlled Rosneft has made its first move into the Azeri oil and gas sector, signing a cooperation agreement with Azerbaijan’s state-owned oil company Socar to include the establishment of an upstream joint venture. The partners agreed to cooperate in oil and gas exploration and production projects in Russia, Azerbaijan and other countries, Rosneft said in a statement on Tuesday.