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ENI and Turkmenistan work over new projects

Oil&Gas Materials 3 June 2010 13:41 (UTC +04:00)

Turkmenistan, Ashgabat, June 3 / Trend H. Hasanov /

Turkmen President Gurbanguly Berdimuhammedov and head of the largest Italian oil company ENI, Paolo Scaroni held talks on expanding cooperation in the Caspian Sea resort Avaza, the company said.

"During the meeting existing cooperation between Turkmenistan and Eni and its expansion through new initiatives were discussed," a message said.

The report emphasizes that Turkmenistan plays a key role in the energy region of the Caspian Sea and Central Asia. It is one of the largest producers of gas.

ENI has been presented in the Turkmen market since 2008 through the acquisition of shares of British company Burren Energy plc. Its activities are focused in the western part of the country at the total area of 200 square kilometers.

Turkmenistan signed a Memorandum of Understanding on cooperation in the energy sector with ENI in Rome in November 2009. It provides research on the development of oil and gas potential of Turkmenistan and the training of its employees. Moreover, ENI supports Turkmenistan's efforts to deliver its energy resources to the markets of Pakistan and India.

Today the press-office of the Turkmen government reported about a meeting between Berdimuhammedov and Scaroni. Scaroni spoke about "high interest of Italian business circles in establishing long-term partnerships with dynamically developing Turkmenistan.

Berdimuhamedov emphasized that Turkmenistan, which implements the policy of broad international cooperation, attaches great importance to strengthening and development of business relations with the EU Member-States and leading European companies on an equal basis of mutual benefit.

According to the report, the head of ENI again confirmed the readiness of the company to expand its presence in the promising Turkmen market." He noted that it is stipulated by successfully developing economic relations and the policy of 'open doors' and favorable investment climate created in the country.

The Turkmen leader reminded that the country, implementing a comprehensive program of modernization of the national fuel and energy sector and a strategy to diversify routes for its energy resources to world markets, relies on the introduction of advanced scientific and technical achievements, involving several foreign companies including Italy's ENI to the active cooperation.

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