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Turkmenistan, Italian Eni discuss co-op in fuel & energy sector

Oil&Gas Materials 5 June 2020 11:27 (UTC +04:00)

BAKU, Azerbaijan, June 5

By Jeila Aliyeva - Trend:

Turkmenistan and Italian Eni company have discussed cooperation in the fuel and energy sector, Trend reports with reference to Turkmenistan’s State News Agency.

The discussions were held via videoconference in the Central office of oil and gas complex of Turkmenistan with Eni Executive Vice President for Central Asia, Luca Vignati and Advisor to the president of Turkmenistan on oil and gas issues, Yagshigeldi Kakayev on June 4, 2020.

Discussions of the fuel and energy sector took place taking into account the current state and global trends in the development of world energy markets.

The parties discussed increasing cooperation with Italian partners, as well as the introduction of modern industrial technologies and training of qualified personnel. The participants noted the good experience of the Eni branch in Turkmenistan, which operates under the production sharing agreement on the contractual territory of Nebitdag oil and gas field in Turkmenistan.

Eni extended the term of its activity in Turkmenistan within the Production Sharing Agreement (PSA) for ten years in November 2014.

The matter rests in a contract territory of more than 1,000 square kilometers in the Balkan region of the country.

The company has also shown interest in exploring 19 and 20 offshore blocks in the Turkmen part of the Caspian Sea with reserves of more than 500 million tons of oil and 630 billion cubic meters of natural gas.

Earlier, during the negotiations with Turkmenistan, the Eni leadership voiced its desire in the long term to render assistance in supplying the Turkmen gas to the world markets.

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Follow the author on Twitter: @JeilaAliyeva

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