On 21 January 2021, the governments of Azerbaijan and Turkmenistan signed a memorandum of understanding to develop jointly an oil field in the Caspian Sea that straddles the nations' border.  Known previously as Kyapaz in Azeri and Serdar in Turkmen, the oil field, now called Dostluk ("friendship" in both languages), potentially has reserves of up to 60 million tons of oil as well as associated natural gas.