Iran expressed desire to increase its share in Shah Deniz project

Tehran is ready to the joint operations for exploration and development of oil and gas fields in the Caspian Sea, said Iranian Ambassador to Azerbaijan Mokhsen Pakayin.

“We are ready to cooperation with Azerbaijan in various fields, including in fields of exploration and development of oil and gas fields in the Caspian Sea,” Pakayin told to Interfax agency.

Diplomat has also invited Azerbaijani companies to invest into the Iranian oil and gas industry in the Persian Gulf.

“Azerbaijan could have invested into the oil and gas industry in the Persian Gulf. This could be the investment bringing big dividends,” he said.

In addition, Pakayin has stressed Tehran’s readiness to increase its share in the Shah Deniz project.

“By the mutual consent Iran could increase its share and the volume of investments into the Shah Deniz project.”

In addition to that, we could expand potential of the swap deliveries of Azerbaijani gas through the territory of Iran.  We could also establish a joint cooperation and implement the investment projects to transport and export our oil and gas to the third countries,” diplomat added.

Speaking about possibility of Iran’s participation in the trans-Anadolu gas pipeline (TANAP) project, diplomat said that “Azerbaijani and Iranian specialists study the issue of Iran’s joining the project.”

 * On August 3-4, 2015 the Azerbaijani governmental delegation led by Minister of Economy and Industry Shahin Mustafayev visited Tehran and was received at a high level.

** Iranian state-run company NIOC has 10% share in the Shah Deniz project.—0-