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More than 234 million 530 thousand manats were allocated for the development of the oil and gas sector in Turkmenistan. President Gurbanguly Berdimuhamedov signed the corresponding Resolution during a working meeting on the development of the fuel and energy sector today, the Information Program "Watan" of the Turkmen Television reported.
"Considering the importance of the oil and gas sector for the country's economy and the further development of this industry, I decided to allocate 159 million 530 thousand 900 manats to the State Concern Turkmengaz and 75 million manats to the State Corporation Turkmengeologiya," Berdimuhamedov said.
According to the document, the Central Bank of Turkmenistan was ordered to allocate credit funds to the Joint-Stock Commercial Bank "Turkmenbashi" for lending to the State Concern "Turkmengaz" and the State Corporation "Turkmengeologiya" "in order to finance the work envisaged to increase the volume of natural gas production through exploration and development of the oil and gas fields."