President of Turkmenistan Gurbanguly Berdimuhamedov received the head of the Russian “Lukoil” oil and gas company, Vagit Alekperov.

The interlocutors exchanged views on the prospects for bilateral partnership in developing oil and gas resources of the Caspian Sea. In this regard, they noted the importance of the recently signed Memorandum of Understanding between the Government of Turkmenistan and the Government of the Republic of Azerbaijan on joint exploration, development and exploitation of hydrocarbon resources of the Dostluk (Druzhba) field in the Caspian Sea.

According to the President of Turkmenistan, the signing of this historic document was an important event in the development of Turkmen-Azerbaijani cooperation in the field of energy in the Caspian Sea. In addition, according to the head of state, there are new opportunities for joint work and additional incentives for attracting large foreign investments in this region on a long-term basis.

In turn, the head of Lukoil stressed that the signing of the historic document between Turkmenistan and Azerbaijan on joint development of the field in the Caspian Sea is a new milestone in the development of Turkmenistan’s oil and gas industry.

Noting that Lukoil has extensive experience of operations not only on the Caspian shelf but also the Baltic shelf, Vagit Alekperov thanked the Turkmen leader for his trust and assured him that his company would make every effort to successfully implement this important project.