CNPC investment in Turkmen oil & gas project exceeds $6B
Ashgabat, Turkmenistan, May 30
By Huseyn Hasanov – Trend:
The total capital investments by China National Petroleum Corporation (CNPC) in a project in the Bagtyyarlyk contract area in Turkmenistan exceed $6 billion, Deng Minmin, CNPC general manager in charge of the Turkmenistan branch, said.
He made the remarks at the Energy Charter Forum in Ashgabat May 30.
Since 2007, CNPC has been carrying out exploration and infrastructure development at the fields that are parts of the Bagtyyarlyk contract area, which is a source for supply of Turkmen gas to China.
In accordance with the agreement signed between CNPC and Turkmenistan’s Turkmengas State Concern, annual gas supplies from Turkmenistan to China in the future will be increased to 65 billion cubic meters.