Turkmenistan, Ashgabat, Jan.10 / Trend H. Hasanov /
Turkmen President Gurbanguly Berdimuhammadov ordered to create the Turkmen-French working group on cooperation and development in energy sector by approving its staff from the Turkmen side, an official Turkmen source said on Monday.
The relevant document states that this step is being taken "to develop energy cooperation between Turkmenistan and France."
The agreement was reached during Berdimuhammadov's visit to Paris in Feb. 2010. French President Nicolas Sarkozy plans to pay a return visit to Ashgabat, the terms of which are specified through diplomatic channels.
Progress is expected in business relations of the two countries, particularly in the energy sector. French Total, the fourth-largest oil company in the world, may be involved in developing the Turkmen part of the Caspian Sea in the near future.
At present, talks are underway on the terms of the production sharing agreement (PSA). Ashgabat has put about 30 sea contractual blocks with reserves of 11 billion tons of oil and 5.5 trillion cubic meters of gas in the Caspian Sea. Gas de France also voiced its interest in cooperation.
In addition, French Schneider Electric signed a major agreement with the Turkmen government for the energy supply of Ashgabat within the consortium with the Belgian Enex.
Schneider Electric will conduct engineering studies, supply equipment and provide supervision over the process of modernization of the energy network of the capital. Implementation of the project covers for a period up to 2017.