SOCAR subsidiary in talks with Pakistan on cooperation in hydrocarbon exploration

BAKU. May 23 (Interfax) - SOCAR Upstream, a subsidiary of the State Oil Company of the Azerbaijani Republic (SOCAR), is negotiating with Pakistan on potential cooperation in hydrocarbon exploration, Pakistani Federal Minister for Petroleum Ali Pervaiz Malik was quoted as saying by the ministry.

Malik held a meeting with Azerbaijan's ambassador to Pakistan, Khazar Farhadov, on Thursday, during which they discussed strengthening bilateral relations, particularly in the energy sector, as well as prospects for expanding economic cooperation.

Malik emphasized the importance of enhancing cooperation with Azerbaijan in oil and gas exploration, energy trade and investment activities.

"SOCAR Upstream is in talks with Pakistani counterparts on potential cooperation in the exploration sector [oil and gas], which could open new opportunities for mutual growth," Malik was quoted as saying.

Malik confirmed his participation in the Baku Energy Week (BEW), which is scheduled for June 2-4 in Azerbaijan's capital.

In turn, Ambassador Farhadov reaffirmed Azerbaijan's commitment to deepening economic and energy cooperation with Pakistan.

"The parties agreed to intensify discussions on establishing joint ventures to maximize the potential of their strategic partnership. Both sides expressed a shared desire to develop cooperation that would benefit both countries and contribute to strengthening regional energy security," the ministry said.