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Dynamic development of national investments is carried out at the fields of Turkmenistan

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02 August 2022

Vice-Chairman of the Cabinet of Ministers Shakhym Abdrakhmanov, during an extended meeting of the government last Friday, reported on the work carried out by the oil and gas complex to increase oil and natural gas production, as well as the timely development of national investments in the coming years.

 In particular, the Vice-Chairman reported on the measures being taken in accordance with the Decree of the head of state on providing financial support to the State Concerns "Turkmennebit" and "Turkmengas", the State Corporation "Turkmengeoligy" to finance the production of additional volumes of oil in the coming two years.

 According to the Work Plan to increase the volumes of natural gas and oil through the exploration and development of oil and gas deposits in the coming years, work is underway at a number of oil and gas fields to drill development and appraisal wells, lay the necessary gas pipelines, including the operation of a gas processing plant at full capacity "Bagaja".

 In this regard, at the expense of the allocated financial resources, an international tender was held for the purchase of the necessary specialized equipment and funds. It was also reported on the results of the corresponding tender announced by the State Concern "Turkmengas" with the participation of foreign companies. Based on its results, the most profitable commercial offer was determined and it is planned to conclude a contract.

 After listening to the report, President Serdar Berdimuhamedov focused on the importance of developing the fuel and energy sector through diversification, attracting investments, building up productive interaction with large specialized companies that are interested in participating in industry projects implemented in the country. Noting the need to continue comprehensive work in this direction, the head of state addressed the vice-premier with a number of specific instructions.