Ashgabat, Turkmenistan, Oct. 15
By Huseyn Hasanov – Trend:
The Turkmen Oil State Concern will conclude a contract with Professional & Broadcast Digital Systems Ltd (UK) for the purchase of spare parts and equipment, Trend reports referring to the Turkmen president’s resolution.
During a working governmental meeting, Turkmen Deputy Prime Minister Myratgeldy Meredov delivered a report on measures to improve the efficiency of production structures of the fuel and energy sector, Turkmen Dovlet Khabarlary state news agency reported.
The new deal will contribute to the modernization and an increase in the production indicators.
Turkmen President Gurbanguly Berdimuhamedov drew attention to the need to increase the efficiency of drilling and overhaul work at the wells, as well as to increase oil production through learning from the experience of foreign companies specializing in this field and attracting investments.
The president instructed to increase the production of liquefied gas and main oil products and to strengthen the raw material base of the industry through searching and revealing new hydrocarbon deposits.
About ten million tons of oil are produced annually in Turkmenistan. The main oil producer is Turkmen Oil state concern. The activity of the state concern covers more than 600 oil, oil and gas and gas deposits that are at various stages of development.
The main geological exploration operations at this stage focused on the search for oil fields, especially in the Miocene deposits in the southwestern and Jurassic-Cretaceous deposits in the central part of the country due to the reliable supply of proven natural gas reserves for many years.
Almost the entire part of onshore Turkmenistan is considered as promising for extracting hydrocarbons, the local geologists said.
Among foreign companies producing oil in Turkmenistan are Eni, Mitro, Dragon Oil, Petronas.