Luanda – Angola and Russia have decided to urge their oil companies to establish profitable cooperation for both sides, Angolan President Jose Eduardo dos Santos disclosed Friday.

Asked, at a press conference, at the end of a day-long visit of Russian President Dimitri Medvedev, if both sides reached an agreement on oil production and the regulation of the world oil production levels, the Angolan Head of State disclosed that contacts are taking place between Sonangol and russian oil producers and "We urge them to continue such discussions to establish cooperation that is profitable for both sides".

The president added that at the bilateral plan, the cooperation was discussed in general terms, not only on the oil and gas sector, but on the whole energy sector, trying to discuss in future a cooperation term allowing to take advantage of other sources of energy.

   
He said that cooperation between Russia and the Organization of Petroleum Exporting Countries (OPEC), now chaired by Angola, was also discussed during the talks labelling Russia as a world big oil producing country with a leading political role in international plan and world economic relations.   

President dos Santos said that OPEC is interested in improving cooperation with Russia (...) not only to secure a good market regulation, production overall, but to define mechanisms to protect the interests of producing countries.