Azerbaijan and Turkmenistan to Discuss Joint Work at Caspian

Oil&Gas Materials 4 June 2008 11:41 (UTC +04:00)

Azerbaijan, Baku, 4 June / corr Trend S.Aliyev / The Azerbaijani minister for industry and energy will discuss the opportunities for joint work in the Caspian and use of infrastructure on parity basis during his visit to Turkmenistan this week.

"We are prepared to hold bilateral talks on all issues of their [ Turkmenistan] interests," Natig Aliyev, the Azerbaijani Minister for Industry and Energy, said on 4 June. The discussions will also concern supply of semi-submersible drilling rigs to Turkmenistan. Visit to Ashgabat will commence on 5 June.

Azerbaijan and Turkmenistan has yet failed to define the Caspian status, which impedes Baku to set up exploitation of the Kapaz field with the recoverable reserves of are assessed at 50mln tons of oil. The field was discovered by the Azerbaijani oil workers during the USSR. During the Soviet Union the field had the name of 'Intermediate' as it is located at the midline between Azerbaijan and Turkmenistan

The US company Chevron and German Wintershall take interest in the development of the Kapaz field.