The State Oil Company of Azerbaijan (SOCAR) is interested in participating in oil field development projects in Turkmenistan, Azerbaijan’s Minister of Economy Mikayil Jabbarov stated during an event dedicated to Turkmenistan’s Independence Day, Report informs.
“Our countries have significant potential to expand energy cooperation. SOCAR is keen to take part in projects involving the development of promising oil fields in Turkmenistan,” he said.
The minister emphasized that bilateral cooperation also plays an important role in enhancing the efficiency of the Middle Corridor, whose transit volumes are increasing annually.
“Turkmenistan has built modern transport infrastructure, while Azerbaijan -located on this corridor- has invested heavily in the development of sea ports, railways, and logistic hubs. Combining our efforts will bring substantial benefits to the entire region,” Jabbarov noted.
He also recalled that the implementation of a new transport corridor connecting mainland Azerbaijan with the Nakhchivan Autonomous Republic will further boost the transit potential of both countries and make a significant contribution to regional development.
