Tehran, Iran, April 21
By Kamyar Eghbalnejad – Trend:
Establishing a joint venture between Iran and Azerbaijan for oil cooperation would be a turning point in the relations between the two countries and the beginning of a long-lasting cooperation in energy sector.
Former MP Hassan Moradi who served as a member of the Iranian parliamentary energy committee told Trend that cooperation in the field of oil and energy is of high significance for both sides and establishing a joint venture for oil cooperation promises a long-lasting cooperation.
Forecasting a bright prospect for cooperation between the two countries, he called for closer ties in the upstream and downstream sector.
Unconfirmed reports suggest that the two sides are planning to establish a joint venture for oil cooperation in the Caspian Sea.
Iranian President Hassan Rouhani concluded his two-day visit to Baku on March 29 where the sides inked eight agreements on cooperation in various sectors, including energy and the Caspian Sea.
During the visit, Minister of Energy of the Republic of Azerbaijan Parviz Shahbazov and Minister of Oil of the Islamic Republic of Iran Bijan Namdar Zanganeh signed “The Memorandum of Understanding on Joint Development of Relevant Blocks in the Caspian Sea between the Ministry of Energy of the Republic of Azerbaijan and the Ministry of Petroleum of the Islamic Republic of Iran”.