Turkmenistan will increase refining capacity

Oil&Gas Materials 12 February 2010 10:58 (UTC +04:00)

Turkmenistan, Ashgabat, Feb. 12 / Trend H.Hasanov /

Turkmenistan plans to increase refining capacity up to 20 million tons of oil per year in the coming years, the official Turkmen source reported.

Presently, the country has two oil refinery plant (refinery) in the town of Turkmenbashi with a capacity of 7.5 tons of oil per year and in the Seydi city with a capacity of six million per year.

Based on the project, the Turkmenbashi refinery's capacity will be brought to 9 million. In addition one more enterprise with capacity of 3 million tons of oil per year will be constructed in the eastern part of the country.

Presently, Turkmenistan produces about 10 million tons of oil. Transportation of oil and petroleum products is carried out by the Caspian Sea through Azerbaijan and Iran. Based on the program on the development of the industry, in 2030 Turkmenistan plans to produce up to 110 million tons, a significant portion of the volume to be achieved through the development of Turkmen Caspian shelf. Companies such as Petronas, Dragon Oil, Burried Hill, RWE, Itera and others operate here.

In 2009, the volume of direct foreign investment by PSA (Production Sharing Agreement) exceeds $3 billion.  In 2008, the index was over $2 billion and in 2007 - $866 million.

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