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Berdimuhamedov demanded not to reduce the productivity of the oil and gas industry due to falling prices for hydrocarbon resources

12:0704.04.2020
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At an expanded meeting of the Government, the President of Turkmenistan, addressing the heads of the oil and gas sector, noted that, despite the fact that in the first quarter the oil and gas sector achieved key indicators, the growth rate of some of them decreased compared to the same period last year, the state news Agency of Turkmenistan reports.

It is necessary to take urgent measures and carry out appropriate work to successfully solve the most important tasks set for this complex, as well as to adapt the production activities of concerns to the situation associated with a decrease in prices for hydrocarbon resources in the world, the head of state stressed.
President Gurbanguly Berdimuhamedov instructed to speed up the development of oil and gas blocks of the state concern "Turkmennebit" located on the Turkmen shelf of the Caspian Sea, increasing their investment attractiveness, and establish cooperation with specialized foreign companies.

An important task is to maintain high rates of production growth for the state concern "Turkmengaz". In this regard, the President of Turkmenistan indicated that in order to expand the opportunities for exporting natural gas and gas chemical products, new markets should be explored, as well as to ensure the planned receipt of funds in convertible currency from the sale of domestic products.

The head of state ordered to analyze the economic feasibility of planned construction of gas chemical complexes and prepare appropriate proposals.

Specific instructions were also given regarding the full and timely completion of work on the exploration of new oil, condensate and ore deposits, provided for by the plans of the state Corporation "Turkmengeologiya".

Touching upon issues related to the operation of the Turkmenbashi complex of oil refineries, the head of state said that it is necessary to carefully study the international markets of oil products and determine the list of the most popular ones based on marketing research.

In the current situation, when there was a decline in prices for these products, we should look for more profitable markets for its sale, the head of state noted.

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