Russian oil giant Lukoil plans to sign an agreement with Azerbaijan's state energy company SOCAR for two offshore blocks in Azerbaijan, the Interfax news agency reported on Wednesday.
CEO Vagit Alekperov told reporters in Davos that the two firms are discussing a number of projects, Interfax said.
"We will now have talks with SOCAR on the exploration. The agreement is likely to be signed today as part of the forum," Alekperov was quoted as saying.
(Reporting by Maria Kiselyova, Writing by Alexander Marrow Editing by Louise Heavens)