Tehran, Iran, Feb. 22
By Mehdi Sepahvand - Trend:
Iran Oil Ministry and the State Oil Company of Azerbaijan Republic (SOCAR) has prepared a memorandum of understanding to boost bilateral relations, a spokesman of Iran's Oil Ministry Jafar Pourfarjoudi told Trend.
"We have had fruitful negotiations with significant results with Azerbaijan and our principal policy is boosting relations with SOCAR," he added.
He said that MoU between Iran Oil Ministry and SOCAR is likely be sealed in the coming days.
He didn't mention a specific project, but said that there are several oil and gas-related spheres that Iran has willingness to cooperate with Azerbaijan.
In August 2014, 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).
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 and a MoU was signed between sides.
KEPCO is engaged in the exploration and production of oil in the Caspian Sea.
During the recent years, Iran and Azerbaijan have negotiated a range of issues including storing Iranian gas in Azerbaijan's underground gas storage facilities as well.