Tehran, Ashgabat discuss expansion of oil co-op

May 2, 2021 - 15:13

TEHRAN – Managing Director of Iran’s Khazar Exploration and Production Company (KEPCO) Ali Osouli met with Turkmenistan’s Ambassador to Tehran Ahmad Ghorbanov to discuss expansion of cooperation in the oil industry.

Speaking in the meeting, Osouli underlined the long history of Iran-Turkmenistan relations as two neighboring countries with deep cultural ties and introduced some of the activities and experiences of KEPCO in the Caspian Sea region, Shana reported on Saturday.

He pointed to the capabilities and achievements of his company in deep-water operations.

The official mentioned the formation of the South Caspian Oil Research Consortium, blocking and prioritization of exploration operations as well as signing an agreement with Azerbaijan for cooperation in Caspian Sea’s Alborz block as some of the important measures taken by KEPCO over the past few years.

Osouli also referred to the establishment of shipbuilding facilities in northern Iran and the construction of Caspian and Amir-Kabir platforms, as well as the construction of multi-purpose vessels by Iran and noted that the Islamic Republic has the potential to provide services and cooperate with Turkmenistan in the mentioned fields.

Ghorbanov for his part welcomed the expansion of cooperation between the two countries, especially in technical and engineering sectors, and underlined the important role of Turkmenistan embassy as a bridge of communication through which logical and executive proposals will be provided to Iranian companies operating in Turkmenistan.

Referring to the cooperation between Iran and Azerbaijan, the Turkmen ambassador expressed hope that Turkmenistan would also be able to use Iran's services and technical knowledge in deep-water operations and that a meeting of the two countries’ economic committee would be held as soon as possible.

“There is great potential for expanding Turkmen-Iranian energy cooperation in the Caspian Sea, which could contribute to the two countries' economic development,” he emphasized.

KEPCO is a subsidiary of the National Iranian Oil Company (NIOC) founded in January 1998. The company is active in a variety of oil and gas-related areas including exploration, development, and production in the South Caspian Sea and three littoral provinces of Mazandaran, Golestan, and Gilan in Iran.

KEPCO supervises all the contracts signed by local and international companies regarding the exploration and development of hydrocarbon reserves in the area including the pertinent environmental matters. 

EF/MA

Photo: KEPCO Managing Director Ali Osouli (2nd R) meets with Turkmenistan’s Ambassador to Tehran Ahmad Ghorbanov (1st L) in Tehran on Sunday.

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