Yemisi Izuora/Ijeoma Agudosi-Agency Report
Iran is moving fast in repositioning its oil sector after lift on sanctions on the country fuelling the fear that glut in the global market will be further challenged.
At the moment, SOCAR and the National Iranian Oil Company are said to be in discussion for the development of a road map on further cooperation.
SOCAR reported that the discussions were held between SOCAR Head Rovnag Abdullayev and NIOC CEO Roknoddin Javadi in Iran on January 24.
Abdullayev voiced SOCAR’s interest in participation both in onshore and offshore energy projects of Iran.
The sides also discussed the prospects for cooperation with local and foreign energy companies.
The Iranian side expressed interest in SOCAR’s offer. It was noted that the cooperation can cover production of crude oil, trade of oil and petroleum products, as well as joint scientific researches.
Earlier SOCAR and NIOC discussed the possibility of implementing joint projects for exploration and production of oil and gas both in Azerbaijan and Iran, as well as in third countries.
Iran shows interest in Azerbaijan’s offer to use its infrastructure for transporting energy resources to world markets.
Azerbaijan’s energy giant SOCAR, which includes production associations Azerneft, made up of companies involved in the production of onshore and offshore oil and gas, Azerkimya, chemical industry enterprises, and Azeriqaz gas distribution, is involved in exploring oil and gas fields; producing, processing, and transporting oil, gas, and gas condensate; marketing petroleum and petrochemical products in the domestic and international markets; and supplying natural gas to the industries and public in Azerbaijan.
Also, SOCAR owns gas stations in Azerbaijan, Switzerland, Georgia, and Ukraine. It has representative offices in Georgia, Turkey, Romania, Austria, Switzerland, Kazakhstan, Britain, Iran, Germany, and Ukraine, along with trading companies in Switzerland, Singapore, Vietnam, Nigeria, and other countries.