Brazil intends to study opportunities of cooperation between Petrobras company (Petróleo Brasileiro S.A.) and Azerbaijan’s state oil company SOCAR, said Rodrigo Maia, president of Brazil’s Chamber of Deputies.

Maia made the remarks Nov. 1 during his meeting with Azerbaijan’s Energy Minister Natig Aliyev, said the Azerbaijani Energy Ministry.

He said that Brazil has big oil and gas potential and the country’s government is conducting openness policy for foreign companies in the development of oil and gas fields.

From this point of view, there is a need to consider the possibility of cooperation between Petrobras company, the main operator of a number of projects at the largest Brazilian oil fields, and Azerbaijan’s SOCAR, noted Maia.

Natig Aliyev, for his part, said that Azerbaijan is open for foreign investments.

It is important to assess the prospects of cooperation between SOCAR and Petrobras, without limiting it only with Azerbaijan and Brazil, but also to study the possibilities of joint work in third countries, noted Aliyev.

Azerbaijan is ready for energy cooperation with Brazil, which is caused by the fact that in the next 40 years, oil and gas will remain as main resources in the global energy balance, he added.