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President Vladimir Putin held a meeting with President of oil company Lukoil Vagit Alekperov

January 16, 2008, The Kremlin, Moscow

Mr Alekperov informed the President about work to develop the offshore oil field in Russia’s part of the Caspian Sea.

Mr Alekperov said the field would produce its first oil in 2009. The area has overall potential to produce around 10 million tons of oil and 12 billion cubic metres of gas a year.

January 16, 2008, The Kremlin, Moscow