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—