Exxon Mobil plans to enter development of Turkmenistan's fuel and energy complex

Oil&Gas Materials 2 May 2012 12:43 (UTC +04:00)

Azerbaijan, Baku, May 2 / Trend V. Zhavoronkova /

U.S. oil company Exxon Mobil has expressed interest in active participation in the implementation of large scale programmes for the further development of the new Turkmen fuel and energy complex, including exploration projects, development of hydrocarbon deposits and oil refining, the State News Agency of Turkmenistan reported on Wednesday.

This was stated by the company's vice-president for Europe and the Caspian region, Phil Mulhall, who specially arrived in Ashgabat to participate in the exhibition of the U.S. companies and the Turkmen-American Business Forum.

Mulhall held a meeting with the government of Turkmenistan during which both sides discussed the most important aspects of cooperation in the near future in view of the increasing attractiveness of the Turkmen market for foreign capital.

Speaking of the hydrocarbon resources of Turkmenistan, whose reserves are confirmed by independent international experts, the presence in the country of all the conditions for foreign businesses and the favourable geographical situation of the country, Mulhall confirmed the readiness of Exxon to establish long term cooperation with Turkmenistan, as evidenced by the opening of an office in Ashgabat.

The widespread introduction of innovative technologies and the latest engineering and technical innovations is one of the priority aspects of the development of the modern Turkmen state, making an impact on fundamental modernisation of leading branches of economy.

In this regard, the vice president of Exxon Mobil, a company which has extensive experience and manufacturing capacity in the oil and gas industry and proven itself as a leading developer of advanced technologies, said he would spare no effort to ensure the successful implementation of the plans of cooperation.