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Azerbaijan and Turkmenistan discussed issues of attracting investors to the Dostlug project

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The participants of the two-day meeting of the joint Turkmen-Azerbaijani working group within the framework of the intergovernmental memorandum on joint exploration and development of hydrocarbon resources at the Dostluk oil field in the Caspian discussed the issues of attracting investors to the project for the development of the Dostlug oil field in the Caspian.

According to the statement of the Ministry of Foreign Affairs of Turkmenistan, the Turkmen side at the meeting was headed by Batyr Amanov, the head of the Turkmengaz State Concern, the Azerbaijani side – by the Minister of Energy Parviz Shahbazov.

The parties considered the implementation of the agreements reached during the previous meetings held in March and May of this year. Particular emphasis is placed on enhancing joint work to attract partners, as well as investors for the implementation of the project.

In turn, the Azerbaijani Energy Ministry reported that the Azerbaijani delegation visited Ashgabat as part of the third meeting of the Joint Working Group, created to prepare and agree on a draft intergovernmental agreement regulating cooperation between the parties on joint exploration, development and development of hydrocarbon resources of the Dostlug field.

Turkmenistan and Azerbaijan signed a Memorandum of Understanding on joint exploration, development and development of the Dostlug hydrocarbon field in the Caspian Sea on January 21, 2021.

The Azerbaijani parliament approved the memorandum in February 2021. The Mejlis of Turkmenistan ratified the document in March this year.

The head of the private Russian oil company LUKOIL, Vagit Alekperov, in February of this year announced his intention to participate in this project.

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