At the meeting between Azerbaijani Minister of Energy Parviz Shahbazov and the UAE delegation led by Sheikh Ahmed Dalmook al-Mazroui, the prospects of cooperation with Azerbaijani state oil company SOCAR were also discussed. Shahbazov stressed that relations between Azerbaijan and the UAE are at a high level in many spheres and there is a potential for their development in the energy sector.
The minister said that during the OPEC + ministerial meeting in Baku, talks were held with UAE Energy Minister Suhail Al-Mazroui. "As a result of these negotiations, discussions have been initiated with UAE’s Mubadala company,” Shahbazov said. “The Azerbaijani side also cooperates with UAE’s Masdar company in the field of alternative energy."
The minister spoke about the complex measures being taken in the field of alternative energy and about favorable conditions created for investors in Azerbaijan .
The 13th meeting of the OPEC and non-OPEC Joint Ministerial Monitoring Committee was held in Baku on March 18, 2018. The day before, the 27th meeting of the Joint Technical Commission was held in Baku. The participants discussed the current situation in the oil market, existing problems and other issues. A presentation dedicated to the pace of the development of the oil market was held, and the Joint Technical Commission’s report on the production figures for February was made.