Turkmenistan ratifies MoU on Dostlug field

The parliament of Turkmenistan has ratified a memorandum of understanding (MoU) on the joint exploration and development of the Dostlug field in the Caspian Sea with Azerbaijan, Report informs, citing State News Agency of Turkmenistan.

The Mejlis [parliament] has adopted a draft decree "On the ratification of the MoU between the Government of Turkmenistan and the Republic of Azerbaijan on the joint exploration, development, and exploitation of petroleum resources of the Dostlug field in the Caspian Sea.

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

The ownership of the Dostlug 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.