18:43 GMT04 July 2020
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    Russia and Kazakhstan have significant plans for joint oil production projects in the Caspian Sea, Russian President Vladimir Putin said Thursday.

    ASTANA (Sputnik) Putin arrived in the Kazakh capital of Astana on Wednesday evening for a two-day visit. He is expected to meet with high-ranking Kazakh officials as well as participating in a summit of the Commonwealth of Independent States (CIS).

    "We [Russia and Kazakhstan] have big plans on joint oil production in the Caspian Sea," Putin said.

    Putin added that the sides had signed an agreement on the demarcation of the northern part of the Caspian Sea’s, a move that would help oil companies to develop a large-scale oil field there.

    Earlier, presidential aide Yuri Ushakov said that the document regulated oil production at the Tsentralnaya site.

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    Tags:
    Oil, CIS, Caspian Sea, Russia, Kazakhstan
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