Azerbaijani, Iranian oil companies ink memorandum of understanding

Photo: Azerbaijani, Iranian oil companies ink memorandum of understanding
 / Oil&Gas

Baku, Azerbaijan, Aug. 22


A delegation led by the First Vice-President of Azerbaijani State Oil Company (SOCAR) Khoshbakht Yusifzadeh visited Iran at an invitation from Iran's Khazar Exploration and Production Company (KEPCO).

SOCAR said Aug. 21 that the Azerbaijani delegation had meetings at Iran's Petroleum Ministry, as well as, at the oil and gas companies.

Meetings were held with Iran's First Deputy Petroleum Minister, National Iranian Oil Company Managing Director Rokneddin Javadi, Deputy Oil Minister for International Affairs and Trade Ali Majedi, and Deputy Director General for International Affairs at the National Iranian Gas Company, Chairman of Management Board for Gas Export, Azizollah Ramazani.

The meetings discussed the state and prospects of Azerbaijan-Iran cooperation in the oil and gas industry, oil and gas production in the two countries, transport and export possibilities, gas transportation between the two countries, etc.

During a meeting, KEPCO CEO Ali Osuli briefed Azerbaijani delegation on the history and international ties of his company. Osuli highlighted the company's interest in cooperation with SOCAR in the Caspian Sea.

The parties stressed the importance of Azerbaijan-Iran cooperation in this direction.

Azerbaijani delegation also visited the Research Institute of Petroleum Industry in Tehran.

There they got acquainted with the research of Iranian scientists in the oil and gas industries and nanotechnology.

A memorandum of understanding was signed following the meeting and negotiations.

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