Russia’s Rosneft and the Kurdistan Regional Government (KRG) have signed a series of agreements on expanding their collaboration in exploration and production of hydrocarbons, commerce and logistics, a report said.

The documents were signed at the recently concluded St. Petersburg International Economic Forum, reported Iraq Business News.

The two sides signed an investment agreement to develop cooperation in exploration and production, agreed on monetization of the export oil pipeline in Iraqi Kurdistan, as well as entered into a number of production sharing agreements.

The agreement outlines the main terms of the project for of a joint venture for implementation of the long-term contract related to infrastructure systems in Iraqi Kurdistan, the report said.

Rosneft will get access to the major regional transportation system with the throughput capacity of 700,000 barrels per day, which is planned to be expanded up to one million barrels per day by the end of 2017.