ASHGABAT, Turkmenistan, April 25. Turkmenistan's Turkmennebit State Concern is open to cooperation with foreign investors and companies in the field of oil refining and petrochemistry, Trend reports.
Guvanch Agadzhanov, Chairman of Turkmennebit State Concern, made this statement at the International Forum to Attract Foreign Investments in Turkmenistan's Energy Sector, which is now taking place in Paris.
"The state concern is prepared to examine proposals from international firms to modernize the above-mentioned industries aimed at enhancing the quality of petroleum products, introducing a new product range, and improving and installing equipment for environmental protection," he said.
Meanwhile, the purpose of this event is to increase the chances of attracting foreign direct investment in all segments of the energy sector of Turkmenistan and improve the regional debate on the future sustainable development of energy.
Data from the Turkmengaz State Concern shows that 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.
Turkmennebit is Turkmenistan's national oil corporation. It was founded in July 1996 by a presidential decree that reorganized sections of the former Ministry of Oil and Gas, and its headquarters are in Ashgabat. The Concern is responsible for the industrial development of oil and gas fields, as well as the production of oil, gas, gas condensate, and valuable components from byproducts obtained from them. It also undertakes search, extraction, concentrated accumulation, preparation, transportation, and processing.