SOCAR is interested in developing Turkmenistan's oil fields

The State Oil Company of Azerbaijan (SOCAR) has expressed interest in participating in oil field development projects in Turkmenistan, Deputy Minister of Economy Sahib Alakbarov said at the Turkmen Investment Forum (TIF 2025) in Avaza, Report informs.

In his speech, the deputy minister also emphasized the potential for cooperation with Turkmenistan in the electric power sector.

He stated that, in the broader future, together with Uzbekistan and Kazakhstan, the possibility of exporting green electricity from Central Asia to European markets through Azerbaijan is being explored.

Alakbarov also noted that cooperation between the two countries plays a key role in optimizing the East-West Transport Corridor and increasing the efficiency of the Middle Corridor.

"In the first seven months of this year, the volume of transit shipments between our countries reached more than 1 million tons, which is 13% higher than the same period last year," he said.

The deputy minister recalled the trilateral meeting held in August in Turkmenistan, during which a memorandum on the development of international air services between Azerbaijan and Turkmenistan was signed.

Alakbarov noted that logistics links are of great importance not only for these two countries, but also for the entire Caspian region and other states on the continent.

He stated that active cooperation in this area will lead to significant changes in the investment environment and achieve tangible results.