President Aliyev approves memorandum with Iran on joint development of Caspian blocks
Baku, Azerbaijan, April 23
Azerbaijan's President Ilham Aliyev has signed a decree approving a Memorandum of Understanding between the Azerbaijani Energy Ministry and the Iranian Oil Ministry on joint development of blocks in the Caspian Sea.
The memorandum was signed on March 28, 2018 in Baku.
Azerbaijan's Energy Ministry and state oil company SOCAR were instructed to implement the Memorandum's provisions after it takes effect.
The Azerbaijani Foreign Ministry was instructed to inform the Iranian government about implementation of the necessary internal procedures for the entry into force of the Memorandum.