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President of Turkmenistan: “It is necessary to accelerate the development of oil and gas blocks in the Caspian Sea”

20:1104.07.2020
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President of Turkmenistan: “It is necessary to accelerate the development of oil and gas blocks in the Caspian Sea”

"It is necessary to accelerate the development of oil and gas blocks in the Turkmen sector of the Caspian Sea, actively attract foreign investment for this purpose," President Gurbanguly Berdimuhamedov said, giving appropriate instructions to Deputy Prime Minister Myratgeldi Meredov, who oversees the fuel and energy sector, at an expanded meeting of the government of Turkmenistan.

The Chairman of the State concern "Turkmennebit", Guychgeldi Baygeldiyev was given the task to ensure the growth of oil and condensate and full implementation of the annual obligations to international partners on existing contracts on production sharing, as well as enhance the attraction of foreign service firms carried out in order to accelerate the development of new oil fields discovered in the Caspian Sea area of Western Turkmenistan.

The head of Turkmenistan also noted that, despite the fact that the main production indicators in the oil and gas complex were fulfilled according to the established plans over the past 6 months, the growth rates of some of them were low compared to the same period last year.

As the leader of the nation pointed out, the production activities of the concerns should be improved, based on the situation that has developed in connection with the decline in world prices for hydrocarbon resources. The enterprises of the complex should carry out appropriate work on the introduction of modern digital technologies, the state news Agency of Turkmenistan reports.

 

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