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 life of the two countries and people, President Gurbanguly Berdimuhamedov said in a video conference session of the Cabinet of Ministers.

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

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