Azerbaijan, Baku / Trend corr S. Aliyev / Baku is sure that joint development of Caspian Kapaz field jointly with Azerbaijan is profitable for Turkmenistan regarding powerful infrastructure in Azerbaijan on development of off-shore fields, Azerbaijani Industry and Energy Minister, Natig Aliyev, reported.
According to the Minister, for implementation of the project it is necessary to determine the legal status of the Caspian Sea. The sea bed should be divided in accordance with the UN Conventions adopted in the world. However, division of the sea bed will not be enough for settlement of the matter, the Minister noted. After calculating of the midline the talks on its modification have to be held between the coastal countries. If there are disputable issues on bordering objects then a modified line has to be defined and coordinated between the countries.
"We know that in accordance with the norms and the practice of the international law Kapaz is a bordering object," the Minister said.
Mineable reserves of Kapaz field are assessed at 50mln tons of oil. The field was discovered by Azerbaijani oil workers during the USSR. During the Soviet Union the field had the name of 'Intermediate' as it is located at the midline between Azerbaijan and Turkmenistan.
