Azerbaijan, Turkmenistan Agree on Joint Development of Disputed Field | Eurasia Diary - ednews.net

9 March, Tuesday


Azerbaijan, Turkmenistan Agree on Joint Development of Disputed Field

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On January 21, a Memorandum of Understanding was signed between the governments of Azerbaijan and Turkmenistan on the joint exploration and development of the Dostlug oil field (formerly Kapaz) in the Caspian Sea, Eurasia Diary reports citing Turan. 

In this regard, the Heads of State Ilham Aliyev and Gurbanguly Berdimuhammedov held a video conference.

Note that for many years this field was the subject of disputes and even a conflict between Baku and Ashgabat.

Azerbaijan considered it its own, and Turkmenistan – as its own and called this field Sardar. This field is located at the junction of the national sectors of the sea between the two countries.

In 1997, Azerbaijan signed an agreement to develop this field with the Russian Lukoil and Rossneft, but after protests from Turkmenistan, the deal fell through.

In 1998, the Turkmen side tried to conclude a contract with the American Mobil to develop Kapaz, but after the threats from Baku, the Americans retreated.

Later, Baku and Turkmenistan agreed not to carry out any work in this place until the issues related to the division of the seabed were agreed.

In 2001, negotiations between the parties to determine the border between the countries failed.

Ashgabat's attempts to attract investors met with opposition from Baku.

In recent years, Baku and Ashgabat have intensified their contacts, declaring their readiness for compromises and cooperation in the Caspian. This concerned joint development and transportation of Turkmen gas to Europe through Azerbaijan.

According to experts, oil reserves at the Dostlug field (Kapaz) are estimated at 60-70 million tons.

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