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Turkic Council hails Caspian energy deal22 January 2021

Azerbaijan, Turkmenistan recently struck deal on hydrocarbons field

The Turkic Council on Friday appreciated an agreement between Azerbaijan and Turkmenistan on hydrocarbon sources in the Caspian Sea.

"Turkic Council welcomes the decision taken by brotherly Azerbaijan and Turkmenistan for joint exploration and development of the hydrocarbon field 'Dostluk' [Friendship] which will further enhance energy cooperation among Turkic Speaking Countries," the council said in a Twitter post.

The agreement on the joint exploration of the once-disputed section of the undersea hydrocarbons field was signed Thursday in the Turkmen capital Ashgabat between Azerbaijani Foreign Minister Jeyhun Bayramov and his Turkmen counterpart Rashid Meredov.

It is estimated that the field located in the middle of areas belonging to Azerbaijan and Turkmenistan has a reserve of 100 billion cubic meters (over 3.5 trillion cubic feet) of natural gas and 60 million tons of oil.

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