Investment in the oil and gas sector is growing

08:4620.05.2020
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Investment in the oil and gas sector is growing

The oil and gas industry is the leading sector of the economy of Turkmenistan, which is given priority attention to its development. In accordance with the priorities of the economic strategy of President Gurbanguly Berdimuhamedov, significant financial resources are allocated for the modernization and diversification of the fuel and energy complex.

Thus, the total amount of investments spent in the fuel and energy sector in the four months of this year amounted to more than 3.735 billion manats, which is 1.3 billion manats more than in the same period last year. In total, from 2016 to 2020, about 40 billion manats were allocated to strengthen the material and technical base of the oil and gas industry.

Investments are primarily directed to the technical and technological re – equipment of oil and gas enterprises-the purchase of equipment, materials, and specialized equipment. This made it possible to significantly expand the front of exploration and drilling operations, accelerate the industrial development of promising areas for oil and gas. A number of projects for the construction of new modern enterprises, various production facilities and structures have been successfully implemented. A striking example is the polymer plant in Kiyanli and the plant for the production of gasoline from natural gas in the Akhal velayat. Much attention is also paid to improving the efficiency of long-term development of deposits.

In General, all this gives positive results. As noted at the May 8 meeting of the Cabinet of Ministers, following the results of the four months of this year, the main production indicators for the oil and gas complex correspond to the planned annual plans.

So, in General, the country produced more than 3.2 million tons of oil and gas condensate and about 25 billion cubic meters of natural gas. More than 650 thousand tons of motor gasoline were produced, which is almost 90 thousand tons more than in the same period last year. Production volumes of diesel fuel amounted to more than 600 thousand tons, polypropylene-28.6 thousand tons, liquefied gas-more than 70 thousand tons.

A set of measures is planned to ensure the reliable operation of the gas production and gas transportation systems of the State concern "Türkmengaz". For this purpose, it is planned to upgrade the equipment of a number of gas compressor stations and other large structures of the departments "Marygazçykaryş", "Lebapgazçykaryş" and the Association "Türkmengazakdyryş", which produce natural gas, its high-quality preparation and uninterrupted delivery to consumers.

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