Turkmenistan’s Parliament has formally approved a Memorandum of Understanding between Azerbaijan and Turkmenistan on joint exploration, development and development of hydrocarbon resources of the Dostlug [friendship in both Turkmen and Azerbaijani] oil field in the Caspian Sea, official state news agency Turkmenistan Today said.
The relevant memorandum was adopted at the thirteenth session of the Turkmen parliament by video conference.
The Memorandum of Understanding was signed by the Foreign Ministers of the two countries on January 21, 2021 in Ashgabat. The hydrocarbon resources of the Dostlug field will be distributed between the parties at a ratio of 30% to Azerbaijan and 70% to Turkmenistan. It had been a matter of dispute for many years.