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Azerbaijan and Turkmenistan may start joint development of disputed Kepez Field in the Caspian

27 April 2009 13:14 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. Azerbaijan and Turkmenistan may soon launch the joint development of a disputed field in the Caspian Sea, a promising oil-gas field straddling the two countries, which Azerbaijan calls Kepez and Turkmenistan terms Serdar.
Khoshbeht Yusifzade, the First Vice-President of State Oil Company of Azerbaijan (SOCAR), said the parties may start joint work for the field and continue Soviet-era geological cooperation in the Caspian Sea.

All deposits except Jdanov in the Turkmen sector of the Caspian Sea were discovered by Azerbaijani geologists.

Kepez Field, which is believed to hold 50 million tons of oil, was once discovered by Azeri geologists.