Mohsen Paknejad, the Minister of Oil, announced this morning (Tuesday, October 7) the examination of existing capacities for developing cooperation between the Islamic Republic of Iran and Azerbaijan in the energy sector. These examinations are conducted in line with the follow-up of agreed-upon axes within the framework of joint working groups.
Oil and Gas Fields in Focus
Iran and Azerbaijan, as neighboring countries with high oil and gas capacities, are striving to establish joint collaborations in this area. Shared oil and gas fields, including the Shah Deniz gas field and the Neftali oil field, are considered milestones of these collaborations. These fields are known for their respective production capacities of 24 billion cubic meters of gas and 300,000 barrels of oil per day.
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Development of Cooperation for Energy Supply
The development of oil and gas cooperation between Iran and Azerbaijan can contribute to a more sustainable energy supply and increased energy security in the region. Iran, as one of the largest holders of gas reserves in the world, can assist in meeting Azerbaijan's gas needs. This cooperation can also strengthen economic and political relations between the two countries.
The Minister of Oil also emphasized the importance of holding regular meetings of joint working groups and stressed the need for transparency and coordination in various fields. Given the high energy capacities in both countries, joint cooperation can lead to sustainable development and optimal utilization of energy resources.
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