SOCAR Seeks Cooperation in Caspian Joint Projects

Azerbaijan oil officials have expressed interest in collaborating with Khazar Exploration and Production Company (KEPCO) to develop Sardar-e-Jangal gas field in the Caspian Sea off  Gilan Province. KEPCO`s managing director said.
Collaboration with Azerbaijan to develop Caspian oil and gas reservoirs is on the agenda and talks are being held between the two sides. Mohsen Delaviz was quoted as saying by ILNA on Monday.
According to the official. several meetings have been held between KEPCO representatives and the State Oil Company of Azerbaijan Republic. or SOCAR. since Tehran and world powers reached a landmark deal in 2015 that led to the lifting of international curbs against the country in the beginning of last year.
Pointing to a preliminary agreement signed between SOCAR and the National Iranian Oil Company in 2015. the official said there is plenty of scope for cooperation in the energy sector between the two Caspian neighbors to help boost the two nation`s economic development.  
According to NIOC chief Ali Kardor. Tehran is eager to develop offshore oil and gas fields in the Caspian Sea in collaboration with foreign majors.
To expand oil and gas development in the Caspian region. we need to reach out to international companies for funds. technology and partnership. Kardor said in a recent statement. adding that KEPCO has been given new impetus to open investment talks with international oil and gas majors

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