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The President of Turkmenistan Received the Head of PJSC LUKOIL

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21 October 2021

 President of Turkmenistan Gurbanguly Berdimuhamedov received the head of the Public Joint Stock Company (PJSC) Lukoil Vagit Alekperov. Expressing sincere gratitude to the national leader for his time devoted and the opportunity to discuss the prospects of cooperation, the guest confirmed the high interest of the business circles of Russia, and, in particular, the largest oil company headed by him, in expanding mutually beneficial partnership with our country. The head of PJSC Lukoil also cordially congratulated the head of state on the 30th anniversary of Turkmenistan’s independence and wished him new outstanding accomplishments in his large-scale activities for the benefit of the Motherland and the people. Noting with satisfaction the traditionally friendly, constructive nature of Turkmen-Russian relations, President Gurbanguly Berdimuhamedov thanked for the congratulations and highlighted that Turkmenistan is always open for productive business cooperation, particularly in the energy sector, where there is a huge resource and economic potential. During the meeting, views were exchanged on topical areas of bilateral cooperation, the broad prerequisites for the development of which are conditioned by the comprehensive energy strategy implemented by our country. Its main vectors are the radical modernization of the oil and gas industry, the expansion of production and processing capacities, the stimulation of investment activities, the implementation of major infrastructure projects together with foreign partners, the diversification of routes for the Turkmen energy carriers export to the world market.

The subject of a thorough discussion was the development of hydrocarbon resources of the Caspian region, where the key factor is the establishment of coordinated international cooperation based on legal norms and respect for each other’s interests.

In this context, the Memorandum of Understanding signed in January this year between the Governments of Turkmenistan and the Republic of Azerbaijan on joint exploration, development and conversion of hydrocarbon resources of the Dostluk Field in the Caspian Sea opens up new opportunities for fruitful partnership. Having informed President Gurbanguly Berdimuhamedov about the activities of PJSC Lukoil in our country, including the progress of projects in the Caspian Sea, the guest reiterated his interest in further cooperation. Expressing deep gratitude to the head of state for the trust shown, the head of the company confirmed the intention of Russian partners to take an active part in large-scale industry programs implemented in Turkmenistan. At the same time, it was noted that the far-sighted policy initiated by the nation’s leader, the favorable investment climate created in the promising Turkmen market and the formed reliable legal framework enhance the attracting foreign investments in the development of hydrocarbon deposits, the construction of related infrastructure. As the head of PJSC Lukoil assured, the company headed by him will continue to bindingly approach the fulfillment of its obligations. The nation’s leader noted that, striving to realize its impressive energy potential for the common good, Turkmenistan attaches great importance to the digitalization of the oil and gas sector, the introduction of innovative environmentally friendly technologies and the best achievements of scientific and technological progress into the industry. And here the best practices of leading foreign, including Russian companies, which long-standing partnerships have been established with, can find effective practical application. At the end of the meeting, President Gurbanguly Berdimuhamedov and the head of PJSC Lukoil Vagit Alekperov exchanged good wishes, expressing confidence in the successful continuation of bilateral cooperation on a mutually beneficial long-term basis.