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One Of The World’s Oldest Oil Regions Is Being Reinvigorated
By Viktor Katona - Jan 30, 2021, 2:00 PM CST
Whilst much of the Caspian is struggling to come out of COVID-induced hibernation, Azerbaijan and Turkmenistan settling one of the region’s longest-standing maritime disputes has finally brought a spark to one of the world’s oldest producing regions. The Sardar/Kyapaz block, discovered in 1986 by Soviet geologists at a total depth of 5km and contested for most of the subsequent period, straddles their maritime border, abutting the Azeri field of the ACG complex. By signing a memorandum of understanding on the disputed block and by simultaneously renaming it to “Dostluk” (Friendship), Baku and Ashgabat are signaling that past grievances should be left behind for the purpose of greater good and greater (shared) profits.  The move to jointly develop the Dostluk field did not come as a complete surprise, following President Gurbang ....

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