Iran and Azerbaijan plan to expand cooperation to develop hydrocarbons in the Caspian Sea

The scientific-Research Institite of the Iranian Oil industry and the Azerbaijan Centre of Oil Studies have signed a joint memorandum to develop Caspian fields, rationally use hydrocarbon resources and protect environment.

Amir Abbas Hoseini, Deputy Director of the Scientific-Research Institute for International Affairs, said that the Azerbaijan Centre for Oil Studies has 80 years of experience of offshore oil production in the Caspian Sea water area.

Amir Abbas Hoseini said that the above-mentioned memorandum is about development of oil fields in the Caspian Sea. Among the common problems are environment protection, especially in the Caspian Sea water area, which is surrounded by the  land from all the sides and has no access to the open waters of the world ocean. This makes the environment protection issue especially important.

Hoseini added that Iran’s neighbors have worked out several programs aimed at satisfying the energy needs at the expense of the Caspian Sea resources and the memorandum signed with Azerbaijan could be considered as beginning of the similar activity by Iran. These documents create conditions for exchange of required information and experience between the neighboring countries, writes www.Iran.ru.

The SOCAR delegation led by Fahraddin Ismaylov, General Director of the Scientific-Research Institute of SOCAR, visited Tehran at the end of September – early October.—0—

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