0715 GMT August 17, 2018
The final talks will be held by a joint Iranian-Azerbaijani committee, which will be set up soon, Hossein Esmaeili Shahmirzadi, the general director for Europe, America and Caspian Sea countries at Iran's Oil Ministry said.
Referring to the decision made by Tehran and Baku to establish a joint oil company, the Iranian official said that the political will of the two sides is in favor of joint work for developing the agreed blocks in the Caspian Sea.
He added that Tehran and Baku are working on establishing the joint oil company.
Esmaeili Shahmirzadi further said that Iran has no specific limitation regarding deep-water drilling, which is needed for the exploration of hydrocarbon reserves in the Caspian Sea.
He added that Iran's Amir Kabir drilling rig, which is a unique platform, is located in the Caspian Sea and the Azerbaijani side also has some equipment in the area.
Amir Kabir semi-submersible drilling rig (Iran's largest offshore structure with a weight of 14,700 tons) is capable of drilling in waters with a depth of 1,000 meters and also drilling from the sea bottom up to a depth of 6,600 meters.
Last month Tehran held talks with Norway's Offshore Resource Group AS (ORG) on Sardar-e Jangal oilfield and three more blocks in the Caspian Sea.
In the negotiations the Norwegian company presented its proposals on developing blocks 24, 26 and 29, as well as reconstructing Amir Kabir rig.
Esmaeili Shahmirzadi also said that after the recent visit of Iranian President Hassan Rouhani to Baku, a new chapter was opened for mutual oil and gas cooperation.
The two parties are working on a cooperation package, the official said, adding that the package include cooperation in various areas including oil, gas and refining.
The practical results will soon be seen in oil and gas cooperation between Tehran and Baku.