Azerbaijan and Iran discussed in Baku the exploration and development of Caspian Sea oil and gas fields, the National Iranian Oil Company's (NIOC) news portal reported.

Reportedly, at the invitation of president of Azerbaijan’s state oil company SOCAR Rovnag Abdullayev, a delegation from Khazar Exploration and Production Company (KEPCO), headed by Mohsen Delaviz, the company's managing director, held talks with SOCAR's top officials.

"There is a huge ground for cooperation in the energy sector between Iran and Azerbaijan to help boost the two nation's economic development," Abdullayev said.

He also added that the two sides should make the best of the opportunity for joint exploration and development of the Caspian hydrocarbon resources.

"The terms of exploration and development in the region's oil and gas fields, sharing the latest technologies in the oil and gas industry and joint analysis of seismic data for exploring deep underwater hydrocarbon resources were among the key issues discussed in the meeting," Delaviz said.

Pointing to a preliminary agreement signed between SOCAR and the National Iranian Oil Company in 2015, KEPCO head said there is plenty of scope for bilateral collaboration in the energy sector.

 

Icmal.Az