Russian and Azerbaijani leaders expect their companies to actively implement promising projects in the Caspian region, TASS reported.

“We expect Russian and Azerbaijani companies to be actively engaged in the implementation of promising projects in the Caspian region on transport, cargo transportation, oil and gas production, ecology and bio-resources,” Russian President Vladimir Putin said at the ninth interregional Russian-Azerbaijani forum in Baku.

Russian energy companies are working successfully in the Azerbaijani market said Putin referring to Rosneft company jointly working with the state corporation of Azerbaijan.

“About $4 billion was invested for LUKOIL's energy projects in Azerbaijan, and Transneft provides a reliable transit of Azerbaijani oil for export,” Putin said.