President of Turkmenistan Gurbanguly Berdimuhamedov on Wednesday received the President of the State Oil Company of the Republic of Azerbaijan (SOCAR) Rovnag Abdullayev. The parties discussed the exploration and development of hydrocarbon resources of the Dostluk (Friendship) field in the Caspian Sea.
Expressing gratitude for the meeting, Rovnag Abdullayev conveyed warm greetings from the President of Azerbaijan Ilham Aliyev to the Head of Turkmenistan, the official media of Turkmenistan reports.
Addressing best wishes to the Head of Azerbaijan, President Gurbanguly Berdimuhamedov noted the good-neighborly character of the Turkmen-Azerbaijani relations.
The meeting participants emphasized the huge economic, energy and transport-logistics potential of the two countries. In this regard, the sides exchanged views on the prospects for partnership in the oil and gas industry, and the implementation of joint projects.
During the talks, Turkmen President and head of Socar placed particular emphasis on the significance of the Memorandum of Understanding signed in January this year between the Government of Turkmenistan and the Government of Azerbaijan on the joint development of the Dostluk field in the Caspian Sea. The parties noted that this document opens up new opportunities for joint work and creates additional incentives for attracting large foreign investments to the region on a long-term basis.
Focusing on the implementation of advanced experience, innovative technologies and the latest scientific and technical developments in the fuel and energy complex, the Head of Turkmenistan noted that the country is always open for mutually beneficial partnerships with leading foreign companies.
The head of SOCAR, in turn, stressed that the oil and gas industry of Turkmenistan is developing at a dynamic pace and that the country implements large-scale projects in this area.
On the sidelines of the St. Petersburg International Economic Forum on June 3, Vagit Alekperov, the head of Lukoil, announced that the Russian oil and gas company plans to become the operator of the joint Turkmen-Azerbaijani Dostluk hydrocarbon field.