Armel Simonden, CEO of Perenco Holdings, stated that the company is prepared to support an increase in hydrocarbon production in Turkmenistan by enhancing oil recovery at mature fields and developing smaller reserves. He made these remarks while speaking at the 31st International Conference and Exhibition "Oil and Gas of Turkmenistan" (OGT 2026) in Ashgabat.

"I am confident that we can contribute to the growth of national production, thanks to our specialized expertise," said Simonden.

According to him, over the past three decades, Perenco has accumulated specialized expertise in developing mature fields and small-scale reserves. Exploiting these assets requires specific technical solutions and significant investment.

Simonden specifically addressed the challenges that extractive companies face during the later stages of field operations. He noted that reservoir energy declines and water influx increases, while equipment gradually wears out—all of which necessitates significant investment to maintain and stabilize production levels.

Regarding technology, the company’s head explained that Perenco aims to maximize the potential of wells that have already been drilled. This is achieved through mechanized production—including artificial lift systems—as well as specialized well intervention and workover operations.

"When working with mature fields, our primary focus is on investing in increasing or maximizing production from the existing stock of wells," he emphasized.

Simonden noted that contractual mechanisms in the oil and gas sector should provide opportunities not only for exploration and the development of new fields, but also for the development of mature assets and smaller reserves. He spoke positively of the Turkmen government’s recent steps to develop these contractual mechanisms, pointing out that they create the conditions necessary for the implementation of such projects.

Perenco is the largest independent, privately-owned European oil and gas company, with headquarters in London and Paris. According to the company, it operates in 12 countries, employs approximately 8,5 thousand people, and manages production and assets totaling around 500 thousand barrels of oil equivalent per day. The company specializes in the development of mature fields and the extension of their operational life; it possesses significant experience working on the shallow-water shelf and developing gas resources using floating liquefied natural gas (FLNG) facilities. Proprietary technologies, agile decision-making, and long-standing partnerships with national oil and gas companies form the foundation of its industrial approach.