TEHRAN, Feb. 27 (Shana) – Managing Director of the National Iranian Oil Company (NIOC) Rokneddin Javadi said swapping Azerbaijan’s oil is on the agenda of the company.

“In the MoU recently signed between NIOC and the State Oil Company of Azerbaijan Republic (SOCAR), the two countries agreed to swap Azerbaijan’s oil across Iran’s territory,” he told Shana.

He said bilateral cooperation in the Caspian Sea basin was the next item on the MoU and added, “Azerbaijan is interested in Iran’s oil and gas research capacity and NIOC is ready to cooperate in this regard.”

On Tuesday, NIOC and SOCAR reached an agreement during the visit of the Azerbaijani President Ilham Aliyev to Tehran and signed the MoU in a ceremony overseen by him and Iranian President Hassan Rouhani in which 11 cooperation document were signed.

Ghadir Investment Company and SOCAR also reached an agreement on oil, gas, and medical products.

By SHANA