Ashgabat, Turkmenistan, June 19
By Huseyn Hasanov – Trend:
President of Turkmenistan Gurbanguly Berdimuhamedov has ordered to finalize the draft Program for the Development of the Oil and Gas Industry of Turkmenistan for 2018-2024, according to Watan newspaper.
“The document should reflect such aspects as increase in oil and gas production, provision oil refineries with crude oil, an increase in the volume of products produced by the fuel and energy complex and expansion of the range of exported goods,” the president said.
Turkmenistan with its natural gas reserves ranks fourth in the world. The country is one of the key players in the energy market of the Caspian Sea region and Central Asia.
Turkmenistan’s potential hydrocarbon resources reach 71 billion tons of oil equivalent, of which 53 billion tons are onshore, 18 billion tons - offshore.
According to the local estimates, more than 80 percent of the resources of the Turkmen part of the Caspian Sea are in sediments at the depths over 3,000 meters and in poorly studied oil and gas accumulation zones.
Prospects are associated with the oil and gas basins, namely, the Middle Caspian basin and the South Caspian basin. According to the presidential program on social and economic development of the country for 2018-2024, some concrete measures are planned to be carried out to diversify and strengthen the export potential of the national economy.