• Home
  • Iran, Azerbaijan eye joint development of oil and gas fields in Caspian Sea
Iranian oil minister Javad Owji said that Iran and Azerbaijan are looking at finalizing "soon" a number of energy deals, including joint development of an oil field in the Caspian Sea. Owji said, "Initial talks were held regarding [a] gas deal with Azerbaijan, gas swap from neighboring countries with Azerbaijan, the contract for transfer of gas to Nakhichevan and development of oil fields in the Caspian Sea”, and that “some agreements were made”. Azerbaijan's Nakhichevan enclave, located between Armenia, Iran and Turkey, receives gas from Iran under a swap arrangement agreed to in 2004, with Baku supplying gas to the Iranian city of Astara. The two states have been developing oil and gas cooperation over the past years and they signed a memorandum of cooperation in 2018 for joint work in an oil field located in the waters of the Caspian Sea.

Iran, Azerbaijan eye joint development of oil and gas fields in Caspian Sea

Iranian oil minister Javad Owji said that Iran and Azerbaijan are looking at finalizing “soon” a number of energy deals, including joint development of an oil field in the Caspian Sea. Owji said, “Initial talks were held regarding [a] gas deal with Azerbaijan, gas swap from neighboring countries with Azerbaijan, the contract for transfer of gas to Nakhichevan and development of oil fields in the Caspian Sea”, and that “some agreements were made”. Azerbaijan’s Nakhichevan enclave, located between Armenia, Iran and Turkey, receives gas from Iran under a swap arrangement agreed to in 2004, with Baku supplying gas to the Iranian city of Astara. The two states have been developing oil and gas cooperation over the past years and they signed a memorandum of cooperation in 2018 for joint work in an oil field located in the waters of the Caspian Sea.

Issue:
Country:
Subscribe to Receive Latest Updates from GIF.