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Azerbaijan, Iran to develop oil in Caspian Sea - minister (EXCLUSIVE)

Economy Materials 20 August 2015 16:33 (UTC +04:00)

Tehran, Iran, Aug. 20

By Temkin Jafarov - Trend:

Azerbaijan and Iran are in talks on joint development of an oil field in the Caspian Sea, Mahmoud Vaezi, minister of communications and information technology of Iran, co-chairman of the intergovernmental commission, said in an exclusive interview with Trend.

He said that the parties have made good progress in these negotiations, but they are not yet fully completed.

"Discussions continue," said Vaezi. "It is already known what kind of field we will develop together. It is a very large field, however its name will be announced only after the completion of the negotiations."

He went on to add that that there is a great potential for cooperation between the two countries in the sphere of oil and gas technologies.

"Iran is interested in the work of its experts and the use of its technologies in Azerbaijan," the minister said. "Negotiations are also underway in this field, I believe that we have a great potential for cooperation in this sphere."

Edited by CN

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