THE REPRESENTATIVES OF THE OIL AND GAS SECTOR OF TURKMENISTAN AND THE REPUBLIC OF AZERBAIJAN DISCUSSED THE PROSPECTS OF JOINT WORK ON THE CASPIAN SEA

On the 27th of July 2021, a two-day meeting of the Turkmen-Azerbaijani Working Group on the Implementation of Intergovernmental Memorandum of Understanding on joint exploration, development, and completion of the hydrocarbon resources of the “Dostluk” field in the Caspian Sea has started in Ashgabat.

The Turkmen delegation at the current session was led by the head of the Turkmen side of the Working Group, the State Minister, Chairman of the State Concern “Turkmengas” B.Amanov, while the Azerbaijani side is headed by the Minister of Energy of the Republic of Azerbaijan P.Shahbazov.  

The session is also attended by the Chairman of the State Concern “Turkmennebit” (Turkmen petroleum), Director of the Institute of the Caspian Sea, as well as the representatives of the Ministry of Foreign Affairs, Ministry of Justice, Ministry of Finance and Economy, Ministry of Agriculture and Environment Protection and the State Concern “Turkmengeologiya” (Turkmen geology).   

At the meeting, the sides considered the current issues related to the implementation of agreements reached during the last meetings, which took place in March and May of the current year. Special emphasis was made on the intensification of joint work on the involvement of partners and investors for the successful implementation of this promising Intergovernmental Document.    

As is known, the Memorandum of Understanding between the Government of Turkmenistan and the Government of the Republic of Azerbaijan on joint exploration, development, and completion of the hydrocarbon resources of the “Dostluk” field in the Caspian Sea was signed on the 21st of January 2021 with the aim of strengthening cooperation and mutual understanding between the two countries in the energy sphere, as well as for unfolding the mutual potential in the given field.