Minister of Energy and Mines Muhammad Arkab received today, Tuesday, at the headquarters of his ministerial department, Minister of Energy of the Republic of Azerbaijan Perviz Shahbazov, accompanied by a delegation from the Azerbaijani Ministry of Energy. In the framework of a working visit to Algeria.
This meeting was attended by executives from the Ministry of Energy and Mines, the heads of the Hydrocarbon Control Authority and the National Agency for the Valuation of Hydrocarbon Resources “Oil”, and the heads of the general managers of the Sonatrach and Sonelgaz complexes.
The talks, which later extended to the members of the two delegations, focused on discussing opportunities to develop cooperation relations between the two countries in the field of energy, which were described as excellent.
The ministers reviewed investment opportunities between the companies of the two countries at all stages of the value chain in the hydrocarbon sector, as well as ways and means of exchanging experiences between Sonatrach, Sonelgaz and the Azerbaijani national oil and gas company, SOCAR.
The two ministers also discussed the state of the gas markets and the development of the oil markets. In this regard, they welcomed the process of dialogue between OPEC and non-OPEC countries for the sake of stabilizing markets in the medium term, as well as the consultations between the two countries within the framework of the Gas Exporting Countries Forum (GECF).
The discussions also made it possible to identify the large cooperation and investment opportunities that exist in the field of petroleum products, electricity, renewable energies and training, as well as in the field of legislation and legal systems pertaining to the energy sector.
On the sidelines of this meeting, a memorandum of understanding was signed on strengthening Algerian-Azerbaijani cooperation in the energy field.
At the end of this meeting, the two ministers expressed “the common desire between the two countries to enhance their cooperation in many areas of common interest.”
The Azerbaijani Minister of Energy will also hold a meeting with the President, General Manager of the Sonatrach Group, and visit the Algerian Institute of Petroleum “IAP” as well as the Research and Development Center of Sonatrach CRD.
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