Baku: SOCAR and Turkish Petroleum Corporation (TPAO) are in discussions for implementing new joint oil and gas projects in Azerbaijan, Trkiye, and other countries, as revealed by Trkiye’s Minister of Energy and Natural Resources, Alparslan Bayraktar, in his address at the conclusion of the 5th Azerbaijan-Trkiye Energy Forum.
According to Azeri-Press News Agency, cooperation between SOCAR and TPAO in exploration and production is anticipated to expand. Alparslan Bayraktar highlighted the intention to continue the partnership initiated last year at Shafag-Asiman and extend it to Karabakh. He mentioned ongoing discussions with SOCAR regarding exploration projects that could be collaboratively implemented in Trkiye, Azerbaijan, and other countries, with plans to propose concrete projects in these areas.
Bayraktar noted that TPAO had joined the project for joint exploration and development of the Shafag-Asiman prospective structure in the Azerbaijani sector of the Caspian Sea with a 30% participating interest last year. He emphasized the priority of maximizing the use of existing oil and gas infrastructure and discussed efforts to bring the Baku-Tbilisi-Ceyhan oil pipeline to its design capacity of 1 million barrels per day.