The signing of a Memorandum of Understanding between Azerbaijan and Turkmenistan on joint exploration and development of the field in the Caspian Sea is a historic event and will increase state revenues of the two countries. Although exploration work on this field began in the 1980s, the two countries later began discussions on developing the field. According to preliminary estimates, the field contains 100 million tons of oil and 30 billion cubic meters of natural gas. That is, the field has quite large energy resources.
In his interview to TRT World Television, Dr. Ahmad Shahidov, head of Azerbaijan Institute for Democracy and Human Rights, said that the field, which has rich oil and gas reserves, is located on the sea border between the two countries and has caused some controversy in recent years: “Although the field was discovered by Azerbaijani oil workers during the Soviet era, it has not been developed for many years due to its location on the border with Turkmenistan. It has even led to cold relations between the two countries.
Finally, the signing of an agreement on the joint development of this oil field between the two countries will serve the interests of both countries, as well as stimulate regional and global projects.”
#Azerbaijan #Turkmenistan #Turkey #oil #gas #TRTWorld #Russia #Europe #China #USA #Biden #Iran #Caspiansea