Minister of Petroleum Bijan Zanganeh will accompany President Hassan Rouhani in his two-day visit to Baku to look into the already reached agreements.
National Iranian Oil Company (NIOC) and Azerbaijan state oil company in March signed a Memorandum of Understanding in presence of Iranian and Azeri presidents for oil projects.
The two sides emphasized speeding up implementation of joint projects and cooperation in the oil sectors of the Caspian Sea.
Zanganeh will discuss with the Azeri party joint exploitation of oil and gas fields in the Caspian Sea, as well as development of oil and gas trade, in particular resuming oil and gas swap with Azerbaijani officials.
The Iranian minister earlier expressed Tehran’s readiness for swap of crude oil and natural gas with Azerbaijan.
Earlier this week Iran’s Deputy Oil Minister Hamid Reza Araghi said that Tehran is negotiating with Azerbaijan to store its gas in the underground gas storage facilities of the country.
Araghi, who heads the National Iranian Gas Company, said that talks are underway with a private company on the issue.
Heading a high-ranking delegation, President Rouhani will leave Tehran for Baku on Aug. 7 to attend trilateral talks with Azerbaijan’s President Ilham Aliyev and Russia’s President Vladimir Putin.
Rouhani is expected to discuss the expansion of trilateral cooperation in commerce, energy, telecommunications, environment, transportation spheres and the fight against terrorism.
Iranian president is also expected to have a meeting with his Azerbaijani counterpart Ilham Aliyev to follow up the implementation of already reached agreements in commerce, industry, energy, culture, banking, consular facilities and telecommunications, in particular, in railway transportation.