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Azerbaijan, Vietnam leaders to discuss economic ties, oil and gas sector in focus

May 14, 2015, 4:26 UTC+3 BAKU
Possibly discuss Vietnam’s participation in other oil and gas projects in Azerbaijan
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BAKU, May 14. /TASS/. At talks on Thursday, the Azerbaijani and Vietnamese presidents, Ilkham Aliyev and Truong Tan Sang, will discuss ways to boost economic ties, focusing on the oil and gas sector, the Foreign Ministry of Azerbaijan reports.

In particular, PetroVietnam Oil Corporation is interested in taking part in the development of some Azerbaijani oil fields. Three years ago, the company signed an agreement with the State Oil Company of Azerbaijan to develop Muradkhangly-Dzhafarli-Zardab oil fields in central Azerbaijan.

However, no progress has been seen in the project because of the difficult local geology affecting its commercial attractiveness.

However, Thursday talks will possibly discuss Vietnam’s participation in other oil and gas projects in Azerbaijan. Independent local observers mark big potentials in this sphere, given that many top managers in the oil and gas sector of Vietnam studied in Baku, dubbed ‘an oil academy’ of the then Soviet Union.

The presidents may discuss ways to boost trade ties, which Baku sees as having bigger potentials. Azerbaijan supplies to Vietnam mostly oil, planning to increase its amounts. It imports from Vietnam products of forestry and consumer goods industries.

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