On Thursday, January 27, the fourth meeting of the joint working group to develop and agree on an agreement between the governments of Turkmenistan and Azerbaijan on joint exploration, development and development of hydrocarbon resources of the Dostluk field in the Caspian Sea was held, the website of the Ministry of Foreign Affairs of Turkmenistan reports.

 During the online meeting, the co-chairs of the working group spoke, the heads of the expert groups heard information, and the draft protocol of the 4th meeting of the joint working group was discussed.

 Speakers noted the progress achieved in the joint work of the parties.  As part of the discussions, the parties also reached an understanding on the soonest agreement on the annexes of the joint agreement.

 Expert groups were instructed to intensify work on the preparation and approval of draft relevant documents affecting the interests of a potential contractor-investor.

 Following the meeting, a protocol was signed.

 It should be noted that Turkmenistan and Azerbaijan signed a Memorandum of Understanding on joint exploration, development and development of the Dostluk hydrocarbon field in the Caspian Sea on January 21, 2021.  The Azerbaijani Parliament approved this memorandum in February 2021.  The Mejlis of Turkmenistan ratified the memorandum in March of the same year.

 The reserves of this field are estimated by experts at 50 million tons of oil.  The head of Lukoil, Vagit Alekperov, during meetings with President of Turkmenistan Gurbanguly Berdimuhamedov in February and October 2021, expressed interest in participating in the Dostluk field development project.