Turkmenistan, Azerbaijan ratify MoU on Caspian exploration

TEHRAN, Mar. 14 (MNA) – The parliament of Turkmenistan has ratified a memorandum of understanding on the joint exploration and development of the Dostluk field in the Caspian Sea with Azerbaijan.

"The Mejlis [parliament] has adopted a draft decree "On the ratification of the Memorandum of Understanding between the Government of Turkmenistan and the Government of the Republic of Azerbaijan on the joint exploration, development and exploitation of petroleum resources of the Dostluk field in the Caspian Sea," Sputnik reported on Sunday citing the State News Agency of Turkmenistan.

Azerbaijan has already ratified the memorandum, which was signed on 21 January.

The ownership of the Dostluk field, located on the Turkmen-Azerbaijani border, has been disputed since the collapse of the Soviet Union. In 2018, the Convention on the Legal Status of the Caspian Sea was signed by Turkmenistan, Kazakhstan, Russia, Azerbaijan, and Iran, marking the beginning of efforts to clarify oil and gas rights.

MNA/SPUTNIK

News Code 171082

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