The deal, worth $US1.354 billion, includes a 10% share in the project's production sharing agreement, an 11.11% share under the related joint operating agreement, a 10% interest in each of the AIOC and the Georgian Pipeline company and interests in other ancillary interests.

The Japanese ambassador to Azerbaijan, Toshiyuka Fudjivara, hinted at further investment in the region saying that relations are developing most dynamically with Azerbaijan, Kazakhstan and Uzbekistan within Japan's "Great Silk Road" diplomacy in South Caucasian and Central Asian regions.

To date Japanese business has invested about $844 million into Azerbaijan's economy, a significant part of which was invested into oil sector.