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Turkmenistan and Azerbaijan can become a "window" for Russian oil and gas companies, - Alekperov

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04 November 2022

Russian oil and gas companies may have an opportunity to develop in Azerbaijan and Turkmenistan. Vagit Alekperov, a member of the board of the Russian Union of Industrialists and Entrepreneurs, told reporters about this on the sidelines of the International Exhibition and Conference of the Oil and Gas Industry in Abu Dhabi (ADIPEC), Orient reports.

“Today, all friendly countries are being studied, including Azerbaijan and Turkmenistan, because this will be a “window” for us,” Alekperov said, adding that, first of all, we are talking about offshore exploration blocks.

Earlier, the Russian oil and gas company Lukoil, headed by V. Alekperov, announced its intention to become the operator of the joint Azerbaijani-Turkmen gas project Dostluk in the Caspian Sea. In January 2021, a Memorandum of Understanding was signed between Azerbaijan and Turkmenistan on joint exploration and development of hydrocarbon resources of the Dostluk field. The document provides that the hydrocarbon resources of the field will be distributed between the parties in the ratio of 30% - to Azerbaijan and 70% - to Turkmenistan.