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Russia, Iran, Others Debate How to Split Caspian Oil Riches

Associated Press

   TURKMENBASHI, TURKMENISTAN - Five countries bordering the energy-rich
   Caspian Sea met Monday at an economic forum hosted by Turkmenistan in a
   bid to agree on how to divide the region's oil wealth.

   Last year, the leaders of Russia, Iran, Azerbaijan, Turkmenistan and
   Kazakhstan signed a convention aimed at ending decades-long uncertainty
   over exploitation of its resources.

   The agreement establishes rules for declaring each country's
   territorial waters and fishing zones, but the issue of dividing seabed
   that contains rich oil and gas fields is subject to further
   negotiations.

   Russia and Iran are yet to ratify last year's agreement. Russia's Prime
   Minister Dmitry Medvedev, who attended Monday's forum in Turkmenistan,
   said that the ratification is expected "in the near future."

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