The Russian Trade Representative Office to Azerbaijan has announced the Russian plans on expanding its activity in Azerbaijan oil and gas field. Trend reports referring to Yiriy Schedrin, the Head of the Russian Trade Representative Office to Azerbaijan, that the investments of Rusneft of Russia to the development of the field Govsani-Zikh will reach $200 mln. This is significant funds, the most part of which will be intended for the implementation of the ecological programme, said Mr. Schedrin.
In addition to the cooperation in the oil and gas production, it also may be in the issue on organization of production of oil-field equipment. In addition to LUKoil, our companies may be involved in the sale of combustive-lubricating materials in Azerbaijan. These are GazProm, RAO EES, Rusneft, said Mr. Schedrin.
According to him, the issue on organization of carrying oil via the pipeline вЂ" Baku-Novorossiysk in reverse-regime work might be considered as well. After oil stock exchanges are organized in Russia, Azerbaijan may be one of the participants. German Gref, Russian Economic Development and Trade Minister, put forward such a proposal during his visit to Baku in autumn, 2006. This proposal was accepted positively. However, preparatory works on organizing trades are underway in Saint-Petersburg. As soon as al the works are completed, Azerbaijan oilmen may join, thinks the Russian diplomat.