ASHGABAT, Turkmenistan, December 20. Turkmenistan's Turkmennebit State Concern increased oil production at the Gumdag field by 15 percent from January through November 2023 compared to the same period last year, Trend reports.
This deposit, according to an official source, is one of Turkmenistan's oldest.
In the first eleven months of this year, the 'Gumdagnebit' department of the Turkmennebit State Concern produced 526,300 tons of oil at this field.
The field's wells are currently being modernized at the system level with the introduction of modern equipment and machinery into production.
Turkmenistan is currently working hard to diversify its energy sector, with a particular emphasis on developing its oil-related industries. Given the nation's vast oil reserves, this endeavor is significant, and it includes ambitious methods for the extraction, transportation, and export of this vital energy commodity.
According to the Turkmengaz State Concern, the country's hydrocarbon resources are estimated at more than 71 billion tons of oil equivalent. This volume includes more than 20 billion tons of oil and more than 50 trillion cubic meters of natural gas.