Russia, Azerbaijan Agree on Oil, Gas JV as Putin Visits Baku.

MOSCOW, August 13 (RIA Novosti) – The Russian and Azerbaijani state oil companies on Tuesday agreed to establish a joint venture on a parity basis to prospect and produce oil and gas in Russia and Azerbaijan and in other countries as Russian President Vladimir Putin paid a one-day working visit to Baku.
Energy Cooperation During Putin’s visit – designed to discuss a wide range of bilateral issues, including trade, energy, transportation and the Nagorno-Karabakh conflict – Rosneft reported that it had also agreed with the State Oil Company of Azerbaijan Republic (SOCAR) to jointly use some pipelines and terminals to optimize supplies to consumers.