SOCAR and TPAO working on new projects in Azerbaijan, Türkiye

Azerbaijan's State Oil Company (SOCAR) and Türkiye Petrolleri Anonim Ortaklığı (TPAO) are working on new projects in Azerbaijan, Türkiye and third countries, Türkish Minister of Energy and Natural Resources Alparslan Bayraktar said at the 5th Azerbaijan-Türkiye Energy Forum in Baku, Report informs.

According to him, the energy partnership between the two countries, which was previously focused mainly on oil and natural gas, has been transforming in recent years and now also covers the electricity sector.

"At the same time, discussions continue on exploration projects by SOCAR and TPAO in Türkiye and Azerbaijan - which started last year with the Shafag-Asiman project and continue with the Karabakh project - as well as projects that SOCAR will jointly implement in Türkiye and third countries," Bayraktar said.

He noted that the sides intend to present conceptual projects in these areas.