Iranian Minister of Petroleum stressed the 13th administration’s policy for developing relations with neighbors, saying Iran-Azerbaijan partnership in Sha Deniz field is a good experience and can provide the ground for defining joint cooperation in oil and gas blocks and fields in the Caspian Sea.

During a meeting with Azerbaijani Energy Minister, Parviz Shahbazov, on Friday, Javad Owji appreciated Azerbaijan’s hospitality and congratulated its National Day, saying: “President Raisi greatly emphasizes development of relations with Iran’s neighbors such as Azerbaijan and it is among the 13th administration’s policies.

The development of energy relations between the two countries will pave the way for the development of relations in other areas as well. On the other hand, Iran is ready to increase gas swap between Turkmenistan and Azerbaijan,” Owji noted.

The two countries’ partnership in Shah Deniz field is also a good experience that can provide the ground for defining joint cooperation in the oil and gas blocks and fields in the Caspian Sea.

During the meeting, both sides discussed and signed some Memoranda of Understanding (MoUs) in various areas including the implementation framework for increasing gas swap, the integrated development of joint blocks and fields in the Caspian Sea, power exchange and the areas of joint cooperation.

Meanwhile, Shahbazov said there are many commonalities between Iran and Azerbaijan and added appropriate cooperation has been created between the two countries in international organizations such as OPEC Plus.

It is true that world condition is unstable and volatile but it is now possible to help markets as what OPEC Plus has already done, he added.

 “The presidents of the two countries are greatly determined to develop ties and this can help to facilitate relations,” he noted.

The agreement to swap Turkmen gas to Azerbaijan was also a historic and valuable event and the presence of the presidents in signing the agreement has strengthened it, he said, adding: “I am grateful that Iran is ready and has the necessary infrastructure to increase gas swap volume.”

Iran’s Petroleum Minister is in Azerbaijan to participate in Baku Energy Week and hold talks with officials attending the three-day international event.

The events are held on June 1-3, 2022 with the support of the Ministry of Energy of the Republic of Azerbaijan and the State Oil Company of the Republic of Azerbaijan (SOCAR).

The Caspian Oil and Gas Exhibition is the first exhibition held since the independence of the Republic of Azerbaijan annually in which over 250 companies of the world will take part.