SOCAR’s Vice President Khoshbakht Yusifzada has discussed perspectives of cooperation between Azerbaijan and Iran in the oil and gas industry at the meeting with Yusif Etimadi, Director of the Iranian Company for Geological Exploration, and Production, in Baku on September 2, 2015.
“After a long break the two countries have a possibility of cooperation in field of development and exploration of oil and gas fields and we need to take advantage of this possibility. This will contribute to development of the both countries’ economies,” added Yusifzada.
He also added the necessity of continuation of such meetings in the future.
Etimadi said that the new technologies applied in the Azerbaijan oil and gas industry are of great interest for Iran.
He also added that during his current visit to Baku he has exchanged opinions with the Azerbaijani oilmen, who have a great experience in field of oil exploration and field development both offshore and onshore of the Caspian Sea. He has also familiarized himself with the technological processes and considered possibilities for cooperation.—0—
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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