pressunity.org
Azerbaijan and Turkmenistan stirred up activities on the Dostlug field project
Baku/29.07.21/Turan: A meeting of the joint Turkmen-Azerbaijani working group on the implementation of a memorandum between the governments of Turkmenistan and Azerbaijan on the joint development of the hydrocarbon resources of the Dostlug (Druzhba) field in the Caspian Sea was held in Ashgabat on July 28, Turkmen television reported on Wednesday.
"The questions of implementation of the memorandum on understanding between the governments of Turkmenistan and Azerbaijan on joint exploration and development of hydrocarbon resources of the Dostlug field in the Caspian Sea were considered," the message reads.
It should be recalled that the memorandum on the Dostlug field was signed on January 21 this year by the Foreign Ministers of the two states in Ashgabat. Under Article 3 of the document, the parties are preparing an appropriate Turkmen-Azerbaijani intergovernmental agreement.
"The main purpose of this document is the joint use of hydrocarbon resources of the field," the Turkmen TV report emphasized.
Also, it noted that earlier an agreement had been reached to attract Lukoil as a contractor and investor for the implementation of the project.
"Dostlug" is a new name of the field which is known in Turkmenistan as" Serdar", and in Azerbaijan – "Kyapaz". The dispute over this field located on the Turkmen-Azerbaijani border in the Caspian Sea lasted since the collapse of the USSR and ended with an agreement on joint development.
Note that estimatedreserves of the field are 50-60 million tons of oil. It was discovered in 1986 by Azerbaijani oil workers.—0—
-
- Economics
- 29 July 2021 13:13
Energy
-
The State Oil Company of Azerbaijan (SOCAR) is launching the Leucipa monitoring program for the first time in the Caspian region to enhance production efficiency in the oil and gas industry, KOKAR reported. “SOCAR is implementing an innovative digital solution – the Leucipa monitoring program – to optimize processes and improve extraction efficiency. This initiative is part of a strategic collaboration with Baker Hughes. This project is a key part of SOCAR’s digital transformation strategy,” the company’s statement said.
-
The daily oil production, including condensate, in Azerbaijan in January amounted to 74.5 thousand tons (559 thousand barrels). Of this volume, oil accounted for 61.7 thousand tons (454 thousand barrels per day), and condensate – 12.8 thousand tons (105 thousand barrels per day), the press service of Azerbaijan’s Ministry of Energy. Thus, Azerbaijan used 82.4% of its OPEC quota in January.
-
In January 2025, Azerbaijan exported a total of 2 bcm of natural gas. Compared to January of the previous year, export volumes decreased by 300 mcm, the website of Azerbaijan’s Ministry of Energy. According to the ministry’s data, during the reporting period, Azerbaijan’s gas exports to Europe amounted to 1 bcm (a decrease of 100 mcm.)
-
In January 2025, Azerbaijan exported 2 million tons of oil and condensate to foreign markets. The export volumes of liquid hydrocarbons from Azerbaijan decreased by 100 thousand tons, the website of Azerbaijan’s Ministry of Energy.
Leave a review