Energy Ministry of Azerbaijan and Oil Ministry of Iraq sign MoU

Energy Ministry of Azerbaijan and Oil Ministry of Iraq sign MoU

Energy Ministry of Azerbaijan and Oil Ministry of Iraq sign MoU

The FINANCIAL -- The Ministry of Energy of Azerbaijan hosted the meeting among the Azerbaijani Minister of Energy Natig Aliyev, SOCAR President Rovnag Abdullayev, and Minister of Oil of Iraq Adil Abdul-Mahdi.

Minister Natig Aliyev stated that rich oil resources of the two countries would contribute to the expansion of cooperation between Azerbaijan and Iraq. He noted that signing of the Memorandum of Understanding would be a base of future cooperation in this field, according to SOCAR.

In turn, Iraqi Minister Adil Abdul-Mahdi expressed satisfaction with his meeting with the SOCAR leadership in Baku. According to him, Iraq holds the 2nd place among OPEC countries for amount of oil production and added his country planned to increase the amount of production. The guest hailed novelties in Azerbaijan`s oil industry, saying renewing the infrastructure was a priority among the forthcoming works of Iraq. Afterwards, the Ministry of Energy of Azerbaijan and the Oil Ministry of Iraq inked a Memorandum of Understanding on projects of development of oil and gas in Iraq.