Azerbaijan, Saudi Arabia may establish technical working group in oil and gas sector

Oil&Gas Materials 11 December 2013 19:52 (UTC +04:00)

Baku, Azerbaijan, Dec. 11

By Emil Ismayilov - Trend:

Azerbaijan and Saudi Arabia will consider the possibility of establishing a technical working group in the oil and gas sector and the potential of bilateral cooperation in this field, according to the protocol signed between the two countries on Dec. 11 in Baku.

The protocol was signed following the third meeting of the Azerbaijan-Saudi Arabia Intergovernmental Commission on Cooperation in Economy, Trade, Investment, Technology, Culture, Sports and Youth.

The parties have agreed on exchange and analysis of relevant data in order to maintain stability in the oil market, according to the protocol.

The sides also agreed to hold meetings to discuss opportunities for joint investment and cooperation between the companies in the oil and gas sector.

The sides also agreed on cooperation in the field of connecting stations, which generate energy from renewable energy sources, to the general electricity distribution network. The parties also intend to share information on energy conservation.

Translated by E.A.