The President of Turkmenistan held a meeting in connection with the fall in prices on the oil markets

23:3025.03.2020
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Issues related to the implementation of the country's socio-economic development Program for 2020-2025, improvement of the fuel and energy complex and key directions for its further development taking into account the complex world realities were discussed today during a working meeting held by President Gurbanguly Berdimuhamedov with the participation of Deputy Chairman of the Cabinet of Ministers Myratgeldi Meredov, who oversees the oil and gas industry, and Chairman of the state concern "Turkmennebit" Guychgeldi Baygeldiev.

According to the state news Agency of Turkmenistan, the actual tasks facing the branches of this sphere are the introduction of best practices, digital technologies and management, comprehensive modernization and diversification of production.

As President Gurbanguly Berdimuhamedov noted, huge work is being done in the oil and gas industry, new oil fields are being opened and put into operation, such as North Goturdepe, Uzynada, and Altykui. Modern production facilities for oil refining are being created, and the volume of exports of petroleum products to international markets is increasing.

At the same time, the head of state drew attention to the fact that currently prices on the oil markets are constantly changing, which is a consequence of the current situation in the world economy, which has led to a reduction in the consumption of crude oil and petroleum products.

In turn, this has an impact on the production and financial indicators of our country, the head of state said, pointing to the need to develop effective measures to maintain the achieved growth rates of oil production and meet the program obligations of this industry for 2020.

Continuing the meeting, President Gurbanguly Berdimuhamedov listened to the proposals of the relevant managers regarding the production and sale of certain types of petroleum products, ensuring stable economic indicators.

The first floor was given to the Chairman of the state concern "Turkmennebit" G. Baygeldiev, who reported on the comprehensive work being carried out in this area.

As noted, in the three months of this year, the plan for oil and gas condensate production was exceeded by 9.7 percent. The concern itself produced 1.7 percent more than the planned target. At the same time, compared to the same period last year, the growth rate of "black gold" production was 105.9 percent.

Currently, the development of new fields is being carried out at an accelerated pace. In particular, an international tender was announced for the provision of services for horizontal-inclined drilling of two wells at the North Goturdepe field. Based on its results, an offer that is economically advantageous for our country will be selected. This method of drilling wells allows you to increase their productivity by 2-3 times.

In accordance with the instructions of the head of state Gurbanguly Berdimuhamedov, work continues on the search and exploration of new deposits. So, in the valley gizilgum the planned construction of a borehole South Uzynada-7 projected depth of 6,500 meters. Currently, the Institute "Nebitgazylmytaslama" is preparing a corresponding project for the development of productive layers identified here earlier in the course of research.

 

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