Mohammad Khatami, the Iranian president, and Saparmurad Niyazov, Turkmenistan’s president, requested to presently halt the development of oil fields in the disputed Casipan Sea waters, reported AFP news agency on Thursday, August 23.
The two presidents called for a complete stop of oil fields developments until the Caspian Sea waters are cordially divided between the two nations. Bilateral ties between Iran and Turkmenistan, especially in the gas and oil industries, were also discussed in a telephone conversation between the two presidents.
Official representatives of the five Caspian states are to formally meet in an October summit to discuss the separation of the zones and the attribution of the sea's huge mineral resources. Currently, each country’s share of the sea corresponds to the size of its coast boundary. While Russia, Kazakhstan and Azerbaijan opt to maintain the current agreement, Iran and Turkmenistan have suggested splitting the sea into equal parts.
The oil and gas reserves in the Caspian waters are believed to be the third largest in the world, following the Gulf and Siberia. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
