Putin: Russia, Kazakhstan have big plans for oil extraction in Caspian Sea (UPDATE)
Details added (first version posted on 12:40)
Russia and Kazakhstan have big plans on joint oil production in the Caspian Sea, RIA Novosti quoted Russia's President Vladimir Putin as saying Oct. 15.
Putin made the remarks after talks with Kazakhstan's President Nursultan Nazarbayev.
He noted that Kazakhstan's oil goes to foreign markets through the territory of Russia.
Putin added that an agreement has been signed on delimitation of the northern part of the Caspian Sea, making it possible for companies to start development of hydrocarbons there.
Earlier today, Putin and Nazarbayev inked a document regarding the delimitation of a part of the Caspian Sea's bottom.
As RIA Novosti reported, the presidents signed a protocol on amendments to the protocol of the Russia-Kazakhstan agreement on delimitation of the northern part of the Caspian Sea's bottom to exercise sovereign rights for subsoil use, dated July 6, 1998.
Earlier, Russian Presidential Aide Yuri Ushakov told reporters that the document regulates the joint development of the 'Central' oil-bearing structure.
Edited by CN