Azerbaijan and Turkmenistan are discussing issues of joint exploration and development of hydrocarbon resources in the Caspian Sea and implementation of potential projects.
Azerbaijani Economy Minister Mikayil Jabbarov met in Ashgabat with Maksat Babayev, head of Turkmengaz State Concern, and industry vice-premier Batyr Amanov, the Azerbaijani office reports in a press release.
Representatives of the State Oil Company of Azerbaijan (SOCAR) were invited to the talks. The parties emphasised that the previously signed interstate documents in the field of energy are an important contribution to the expansion of business partnership.
The experts said Daryo that in early 2021 at the level of the governments of the two Caspian littoral countries a Memorandum of Understanding on joint development of the Dostluk (Friendship) frontier oil and gas field was signed.
At this stage, the documents concerning the interests of a potential contractor-investor are being prepared. The reserves of this Caspian hotspot are estimated at 100bn cubic metres of gas and 60mn tonnes of oil.
Credits: Eziz Boyarov
Comments (0)