SOCAR and LUKOIL have inked a Memorandum of Understanding on the Nakhchivan prospective structure in the Azerbaijani sector of the Caspian Sea, as well as on the exploration block covering the Caspian-Guba and Goshadash prospective structures in the shallow waters of the sea.

The document was signed by SOCAR President Rovnag Abdullayev and LUKOIL President Vahid Alakbarov in Davos.