The prospects for partnership in the oil and gas industry and the implementation of joint projects were discussed on Thursday at the meeting of President Gurbanguly Berdimuhamedov with the head of the State Oil Company of the Republic of Azerbaijan (SOCAR) Rovnag Abdullayev.

 During the meeting, which was held in a businesslike, constructive manner, it was emphasized that Turkmenistan and Azerbaijan had enormous economic, energy, transport and logistics potential.  In turn, that opened up wide opportunities for productive interaction in strategically important areas.

 The interlocutors thoroughly discussed issues related to the exploration, development and development of hydrocarbon resources of the Dostluk field in the Caspian Sea.

 Particular emphasis was placed on the significance of the Memorandum of Understanding signed in January of this year between the government of Turkmenistan and the government of Azerbaijan regarding this field, on the basis of which a draft of the relevant bilateral Agreement is currently being developed.

 As noted, the signing of this historic document was an important event from the point of view of further strengthening and development of the Turkmen-Azerbaijani cooperation in the field of energy in the Caspian Sea.  This opens up new opportunities for joint work and creates additional incentives for attracting large foreign investments to the region on a long-term basis.

 Having paid great attention to the issues of introducing advanced experience and high technologies into the fuel and energy complex, as well as the latest scientific and technical developments, Turkmenistan was open for mutually beneficial partnerships with leading foreign companies, the head of the state noted.

 In turn, Rovnag Abdullayev emphasized that the oil and gas industry of Turkmenistan was developing at a dynamic pace, large-scale projects were being implemented in this area. In general, all that served as a good basis for productive joint work of specialists from the two countries.