After years of negotiations, Azerbaijan and Turkmenistan have reached a preliminary agreement on the joint exploration of a disputed section of an undersea hydrocarbons field in the Caspian Sea believed to hold extensive energy reserves. President Ilham Aliyev of Azerbaijan and Turkmen president Gurbanguly Berdymukhammedov, attended online the signing by their foreign ministers of a memorandum on the mutual intention to jointly explore and develop the Dostlug (Friendship) undersea field.
Egyptian Minister of Petroleum Tarek El-Molla said that the ministry reached a total of 12 agreements during the period of the coronavirus pandemic, with a minimum investment of about $1.4 billion, to drill 23 wells in nine regions in the Mediterranean and three regions in the Red Sea, pointing out that three further agreements are to be signed soon.
The Saudi leading energy company, ACWA Power, will develop Azerbaijan’s first wind power development in collaboration with local entities, in three deals that could herald further joint energy projects between the two countries.
European Council president Charles Michel and Turkish president Recip Tayip Erdogan on Tuesday (15 December) held a telephone conversation to discuss EU-Turkey relations in view of recent decisions by EU leaders to maintain pressure on Ankara over its energy exploration policy in the East Mediterranean.