Ashgabat, Turkmenistan, Nov. 24
By Huseyn Hasanov– Trend:
Investments worth 159.9 billion Turkmen manats will be allocated to the oil and gas sector of Turkmenistan as part of the program of the social and economic development in 2018-2024, the Neutral Turkmenistan newspaper reported.
Along with increasing oil and gas production and export, and expansion of geological exploration to strengthen the industry’s crude sources, priority will be given to technical and technological re-equipment of energy sector facilities, creation of modern infrastructure, and science-intensive facilities producing a wide range of oil and gas chemical products, the report said.
“In general, all this is designed to ensure the most effective use of natural resources for sustainable economic growth, strengthening of energy independence and security of Turkmenistan, its position in the global energy markets,” the report noted.
It is also noted that international cooperation in energy is an important direction of economic strategy of Turkmenistan, which ranks fourth in the world for proven natural gas reserves.
(3.5 Turkmen manats = $1 on Nov. 24)