Turkmenistan eyes to develop oil & gas fields through foreign investments
Ashgabat, Turkmenistan, Oct. 22
By Huseyn Hasanov– Trend:
Necessary measures are being taken in Turkmenistan to accelerate the development of oil and gas fields through attracting foreign capital, Trend reports citing Turkmen President Gurbanguly Berdimuhamedov’s appeal to participants of the international conference and exhibition “Oil and Gas of Turkmenistan-2019” (OGT), which opened Oct. 22.
As a result of the phased development of the Galkynysh gas field, which holds a leading position in the world, the introduction of highly efficient technologies in such promising and oil-rich areas as Northern Goturdepe, Altykui, Uzynada, Barsagelmez and Chekishler, conditions were created for increasing pace of extraction of natural gas, crude oil and gas condensate, reads the appeal.
Possessing tremendous natural wealth, Turkmenistan enjoys great prestige in the world as a major producer of energy resources and a reliable partner, according to the appeal.
This is evidenced by major projects implemented and being implemented in the oil and gas sector, in particular, the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project, reads the appeal.
“Construction of this major transnational gas pipeline is ongoing at a rapid pace,” the Turkmen president said. “Its laying will contribute to ensuring sustainable development, strengthening security and stability in the region, enhancing economic cooperation.”
Turkmenistan plays a key role in the energy market of the Caspian Sea region. The country ranks fourth for the volume of gas reserves in the world.
As many as 38 oil fields, 82 gas condensate fields, as well as 153 gas fields, including 142 fields on land and 11 on the shelf of the Caspian Sea were opened in Turkmenistan, according to Turkmengeology State Concern.