Chechnya ready to cooperate with Azerbaijan oil production

Chechnya is ready to cooperate with Azerbaijan in oil production, Deputy Prime Minister Eli Isayev told journalists in Baku.

"Today, Rosneft has a license for oil extraction in Chechnya. License was granted in 2002 for 20 years. Nevertheless, the industry is being studied. There are a number of oil fields in Chechnya, where it is necessary to carry out exploration work. Cooperate with Azerbaijan is possible in this direction" Isayev said.

Isayev added that Chechen delegation arrived in Azerbaijan with a number of investment projects in such sectors as transport, energy, construction, agriculture and others.

"The market of the Chechen Republic has not yet mastered, but it has great potential. According to all indicators of economic growth in recent years Chechnya is ahead of other regions of the Russian Federation, which makes it attractive for investment, and we hope to
cooperate with Azerbaijan in this field," Isayev said.


/Trend/