Black Sea Forum for Partnership and Dialogue Black Sea Forum for Partnership and Dialogue The inaugural session of the Black Sea Forum for Partnership and Dialogue (BSF) was held on June 4–6, 2006 in Bucharest. The Forum is a Romanian initiative, initially meant to hold annual presidential-level summits (the venues rotating among participant countries) and thematic or sectoral-cooperation meeting during those annual intervals. The Forum is not meant to create new regional institutions, but rather to turn into a regular consultative process among countries of the extended Black Sea region (defined as including the South Caucasus to the Caspian Sea) and between this group of countries and
Caspian Sea petrochemical industry; this has significantly decreased the number of species of marine birds in the area. Existing and planned oil and gas pipelines under the sea further increase the potential threat to the environment. The Vladimir Filanovsky field in the Russian section of the body of water was discovered for its wealth of oil in 2005. It is reportedly the largest discovery of oil in 25 years. It was announced in October 2016 that Lukoil would start production in this region. The rising level of the Caspian Sea between 1994 and 1996 reduced the number of habitats for rare species