BAKU, Azerbaijan, June 7. The State Oil Company of Azerbaijan (SOCAR) plans to develop energy cooperation with Turkmenistan and hopes to open its office there, SOCAR Vice-President on Investments and Marketing Elshad Nasirov said at a roundtable event dedicated to the 30th anniversary of the establishment of diplomatic relations between the two countries on June 7, Trend reports.
He noted that the memorandum of understanding between the Government of the Republic of Azerbaijan and the Government of Turkmenistan on joint exploration and development of hydrocarbon resources of the Dostlug field in the Caspian Sea has brought bilateral ties to a new level.
Nasirov underscored the significant growth of bilateral trade between the two countries.
"Turkmen goods are being transported to Europe and back through the territory of Azerbaijan", he said.
Furthermore, the solution of the legal status problem of the Caspian Sea creates considerable opportunities for countries bordering the sea, since all five countries [Kazakhstan, Turkmenistan, Iran, Azerbaijan, and Russia] are among the world's largest hydrocarbon producers.
The vice-president also emphasized the contract signed for the supply of Turkmen gas to Azerbaijan through Iran.
"SOCAR is a transnational company operating in the oil and gas field. Hopefully, the company will be able to open its Ashgabat office in the near future," Nasirov said.