BAKU, Azerbaijan, August 12. The Gumdagnebit department of the Turkmennebit State Concern in Turkmenistan exceeded the oil production plan from January through July 2022, Trend reports via “Business Turkmenistan” news agency.
During the specified period, the department produced 280,000 tons of oil. The production plan was exceeded by 11 percent.
The growth rate of oil production by the department compared to the same period last year amounted to more than 120 percent.
A resolution was signed in February this year on investing more than 250 million Turkmen manat ($71.4 million) in the Turkmennebit State Concern.
Turkmenistan ranks among the world's leading countries in terms of oil and gas reserves. Its gas reserves have increased by 126 billion cubic meters as a result of the industrial development of recently discovered gas fields.
At the same time, the country pays great attention to the creation of oil and gas processing plants, as well as the export of energy resources to world markets.