Ashgabat and Baku, in collaboration with Moscow, have entered the active phase of implementing a joint project to develop the "Druzhba" oil and gas field on the Caspian Sea shelf, along the border of Turkmenistan and Azerbaijan.
To achieve this goal, the Azerbaijani state company SOCAR has opened its representation in Turkmenistan.
The field, with reserves of approximately 50 million tons of oil and no less than 30 billion cubic meters of gas, has long been a subject of dispute between the two countries. In 2012, the parties agreed on joint development with a proportion of 30% (Azerbaijan) and 70% (Turkmenistan).
The Russian company "Lukoil" has joined the project as an investor. It already has the necessary infrastructure on the Russian Caspian shelf, minimizing costs for equipment delivery.
Furthermore, "Lukoil," in collaboration with SOCAR, plans to operate on promising fields in the Azerbaijani sector of the Caspian.
It is anticipated that the resources extracted from "Druzhba" will be exported to Europe.
CentralasianLIGHT.org
December 1, 2023