Lukoil is set to put the finishing touches on the private Russian oil giant's entry to an offshore exploration and development project in Kazakhstan's Caspian Sea waters.

The deal for the Al-Farabi block is seen by the operator as important in maintaining its long-term hydrocarbon production capacity.


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Speaking in an interview with Russian state television channel Rossiya24 earlier on Thursday, Lukoil chief executive Vagit Alekperov said the deal with Kazakhstan's Energy Ministry is set to be signed on 4 June.