Iran's deputy energy minister for water and waste water affairs Mohammad-Reza Attarzadeh and Valiov also conferred on the possibility of generating electricity from the dam.
Attarzadeh said that the two sides also agreed to form an expert group to carry feasibility study for construction of hydroelectric power plants to generate electricity.
Iran-Turkmenistan Friendship dam has a capacity of 820 million cubic meters, the Islamic republic news agency reported.
The Friendship Dam has been built on Hariroud River, 75 kms to the south of Sarakhs border town in Iran's North Khorassan province and is located 250 kms to the northeast of the city of Mashhad.
The project was implemented at a cost of $168 million financed jointly by the governments of the two countries.
Reduced flood risk and improvement in the ecology of the area are among the positive impacts of Friendship Dam.