ANKARA: Turkish and Azerbaijani energy companies are planning joint investments in nearby regions, an official said Wednesday, a day after President Recep Tayyip Erdoğan signaled such a move.
“The country we invest in is not clear yet. But it will not be far, we may have assessments for close geography,” Vagif Aliyev, deputy chairperson of the board of directors at Azerbaijan’s state energy company SOCAR, told reporters.
Aliyev also signaled potential cooperation with the Turkish Petroleum Corporation (TPAO) on the natural gas reserves that Turkey has discovered in the Black Sea.
Erdoğan Tuesday held a meeting with his Azerbaijani counterpart Ilham Aliyev, after which he said talks were held on potential cooperation between Turkey’s state energy company and SOCAR in other countries.
His remarks came during a visit to the symbolic city of Shusha in Nagorno-Karabakh, which was liberated from Armenian occupation last November after 28 years. “We are pleased with the investments of Azerbaijani companies in Turkey, especially SOCAR,” Erdoğan said. “We also discussed the investments of SOCAR and Turkish Petroleum in third countries. In the coming period, we will further improve the scope of our trade and economic cooperation,” the president noted.
SOCAR and TPAO have worked together on various projects since 1994. Aliyev said there are opportunities to utilize this experience in third countries.
He stressed they are initially considering nearby energy-rich regions instead of far-off countries. “The common view of the presidents on this issue is an instruction for us,” he noted.
“SOCAR and TPAO have been co-investing since 1994. We want to continue that, of course. But the country is not certain yet, we may have assessments. The third country in question could be a place in close geography. Not Singapore or Africa, for example,” he said. – Agencies
