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Turkmenistan and Azerbaijan to explore oil fields in the Caspian Sea

Ashgabat, Nov 29 (Prensa Latina) Turkmenistan and Azerbaijan are ready to sign an agreement on the joint exploitation of the Dostluk hydrocarbon field in the Caspian Sea, according to Turkmen Deputy Prime Minister Batir Atdayev.

The issue was discussed at a meeting of the Turkmen-Azeri intergovernmental commission on economic cooperation in Ashgabat, the Turkmen Trade and Business Minister told reporters.

Atdayev recalled that the signing in 2021 of the Memorandum of Understanding between the governments of Turkmenistan and Azerbaijan on joint hydrocarbon exploitation in the Dostluk field was a notable event in the oil and gas sector.

“The joint working and expert group is preparing the necessary document to implement this project,” he stressed.

Meanwhile, the co-chairman of the commission on the Azerbaijani side, Minister of Economy Mikayil Jabbarov, stated that Baku “is ready to sign the intergovernmental pact to implement the agreements soon.”

Dostluk is the new name of the field, formerly called Serdar in Turkmenistan and Kapaz in Azerbaijan, which has been the subject of dispute between the two republics since the collapse of the Soviet Union.

The dispute was settled with the achievement of the agreement on the joint exploitation of this Caspian Sea deposit.

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