Turkmenistan, Italy to hold high level business talks

Ashgabat, Turkmenistan, April 25

By Huseyn Hasanov - Trend:

The information about the preparation for the upcoming working visit of the governmental delegation led by Turkmen President Gurbanguly Berdimuhamedov to Italy on May 3-4 was voiced at a meeting of the Cabinet of Ministers of Turkmenistan, the government of Turkmenistan said April 24.

President Berdimuhamedov plans to meet with the top officials and business circles' representatives of Italy. Moreover, he will take part in the events on the occasion of the National Day of Turkmenistan at the EXPO-2015 World Exhibition in Milan on May 3.

Turkmenistan is expected to widely demonstrate its achievements in the field of food security and to discuss a range of issues associated with the food production and export.

President Berdimuhamedov stressed the country's willingness to intensify the relations in key areas during the meeting with Italian Minister of Agriculture Maurizio Martina in Ashgabat, Altyn Asyr national TV channel reported April 24.

"During the meeting, the Turkmen president and his guest stressed with satisfaction the availability of great opportunities for intensifying the cooperation in all fields, including agriculture," the statement said. "Agriculture is one of the main segments of the national economies of the two countries."

Earlier it was reported that the sides call the oil and gas industry, power engineering, construction, textile and chemical industries as the perspective vectors for further mutually beneficial cooperation.

The Italian oil company Eni extended its activity in Turkmenistan in November 2014 as part of the Production Sharing Agreement (PSA) for ten more years. The signing ceremony of the document was held in Ashgabat as part of Italian Prime Minister Matteo Renzi's working visit to Turkmenistan.

The activity of Eni, which has invested more than $1.5 billion in Turkmenistan since 2008, covers the contract territory of more than 1,000 square kilometers in the Balkan region of the country.

As it is known, Ashgabat actively invites foreign companies, including those from Europe, for the development of hydrocarbons in the Turkmen part of the Caspian Sea. Some 11 billion metric tons of oil and 5.5 trillion cubic meters of gas of the projected resources, excluding the already contracted blocks, have been concentrated there.

Eni expressed interest in exploring the offshore blocks 19 and 20 in the Turkmen part of the Caspian Sea with reserves of more than 500 million metric tons of oil and 630 billion cubic meters of natural gas.

Earlier during the talks with Turkmenistan, Eni management voiced its desire in the long term to assist with Turkmen gas supply to the world markets.

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