Central Bank of Turkmenistan allocated over 250 million manats to increase oil production

21:2908.02.2022
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Central Bank of Turkmenistan allocated over 250 million manats to increase oil production

In Turkmenistan, over 250 million manats allocated to increase oil production. Today, President Gurbanguly Berdimuhamedov signed the corresponding Decree during a working meeting, the Information Program "Watan" of the Turkmen Television reported.

According to the document, the Central Bank of Turkmenistan was instructed to allocate loan funds to the Joint-Stock Commercial Bank "Turkmenbashi" to credit the State Concern "Turkmenneft" “in order to successfully accomplish the objectives of the country’s oil and gas industry and ensure timely completion of the planned works on increasing the volume of oil production".

"The government will continue investing funds in this sector," stated the Turkmen leader.

Last month, President Gurbanguly Berdimuhamedov ordered the Central Bank of Turkmenistan to allocate a total of more than 234 million manats to the State Concern "Turkmengaz" and the State Corporation "Turkmengeologiya" to "finance the work envisaged to increase the volume of natural gas production through exploration and development of oil and gas fields."

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