Tehran-Baku Oil Talks Continue

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Tehran-Baku Oil Talks Continue
TEHRAN (Shana) The CEO of Khazar Exploration and Production Company (KEPCO) said talks between Iran and Azerbaijan were continuing and a joint committee had been formed by the two neighbors.

TEHRAN (Shana) __ The CEO of Khazar Exploration and Production Company (KEPCO) said talks between Iran and Azerbaijan were continuing and a joint committee had been formed by the two neighbors.

Ali Osouli told Shana that given an agreement between the presidents of 5 countries in the Caspian region, KEPCO was pursing oil deals with Azerbaijan.

He said this was the first time that the two countries were to cooperate in a bloc which was not fully owned by the two of them which made the talks more complicated.

Osouli said Iran enjoyed skilled labor which gave it an advantage in the talks as admitted by Azerbaijan’s SOCAR.

 

Mar 10, 2019 11:07
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KEPCO amid many other companies is a subdivision of National Iranian Oil Company (NIOC) founded in January 1998. KEPCO is an authority in exploration, development and production of oil and gas in Iran concerning South Caspian Sea and three littoral provinces of Golestan, Mazanderan and Gilan in Iran. KEPCO supervises all the contracts signed by local and international companies regarding exploration and development of hydrocarbon reserves in the area including the pertinent environmental matters. KEPCO is committed to the development of Caspian Sea oil and gas reserves as well.