Turkish Petroleum Corporation oil company (TPAO) will have a 30 percent stake in the Shafag-Asiman natural gas field located in the Azerbaijani part of the Caspian Sea, Turkish Minister of Energy and Natural Resources Alparslan Bayraktar told journalists at the 30th Caspian Oil and Gas Exhibition in Baku, APA-Economics reports.
Bayraktar said that they had a fruitful meeting with President Ilham Aliyev as part of their visit to Azerbaijan and discussed cooperation in the energy sector.
The Minister noted: “TPAO is entering the Shafag-Asiman natural gas field as a partner. Inshallah, we will sign this agreement here. We have obtained a 30 percent share. Our partners are the State Oil Company of Azerbaijan (SOCAR) and British Petroleum (BP). Hopefully, we will start production in this field as well.”
“We will continue and increase work in the Caspian Sea”
Bayraktar also touched on Türkiye's cooperation with Azerbaijan in the energy sector and said: “TPAO's presence and visibility here is increasing somewhat. We are also talking about other areas. We will continue and expand work in the Caspian Sea, in particular.”
Bayraktar added that Turkish and Azerbaijani energy projects contribute to Europe's energy security: "I hope there will be new developments in the near future in projects related to the transportation of gas from additional and different sources to Europe."
He also stated that Azerbaijan is investing in renewable energy sources and said: "In the coming period, we will develop projects related to the production of renewable energy in Nakhchivan and its delivery to Türkiye and from there to Europe."
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