Novak said Russia's coordination with Saudi Arabia supports stability in oil prices and there are many joint projects with Saudi Arabia's national oil company Saudi Aramco.
"While we continue to see a firming fundamental backdrop over the course of this year.investors should not discount the caution signs that have been emerging", investment bank RBC Capital Markets said in a note to clients.
Russian Federation and Saudi Arabia are expected to finalise a major agreement in the LNG sector as the oil market's biggest producers look to boost their co-operation in the face of growing prominence of the United States shale sector.
Saudi Arabia plans to sell 5 percent of its crown jewel Aramco in what would be the world's largest IPO in history.
He said that all of these collaborations are very important because they allow us to learn from people who bring a different perspective than us.
Rabih Haidar, head of Saudi Arabia Territory, LinkedIn Talent Solutions, said the kingdom's major economic transformation, aimed at diversifying the economy from its oil sector dependence, is having an impact on the country's employment market.
Saudi Energy Minister Khalid al-Falih attended the launch ceremony for the Yamal LNG project at the beginning of last December, when President Vladimir Putin invited Saudi Arabia to buy Russian.
An announcement is expected later on Wednesday on a partnership between Aramco and a liquefied natural gas project in Russia, Dmitriev said.
Al-Falih said Saudi Arabia is also working with Russian Federation on nuclear energy for peaceful purposes, adding the issue of climate change was also discussed.
Back in 2015, RDIF and Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), announced a partnership to invest in projects in Russian Federation, such that could strengthen trade, economic, and investment co-operation between the two countries.
Last year, RDIF and PIF created the Russia-Saudi Investment Fund (RSIF) to pursue investment opportunities, primarily in Russia, and in joint ventures that can help Saudi Arabia's economic diversification.
"As we enter 2018 it's become clear that the jobs landscape in Saudi Arabia is changing".