The signing of the Memorandum of Understanding Azerbaijan and Turkmenistan on joint exploration and development of hydrocarbon resources of the “Dostlug field” in the Caspian Sea is a historic event in the life of the two countries and people, President Gurbanguly Berdimuhamedov said in a video conference session of the Cabinet of Ministers.

Axar.az reports that Berdimuhamedov stressed that the document marks a new phase in energy cooperation between Turkmenistan and Azerbaijan.

The MoU paves the way for the income of big foreign investments to the Caspian, said the Turkmen leader, adding that strong impulse would be given to the development and dynamic growth of national economies, the opening of new workplaces, enhancement of level and quality of people’s life.