September 30, 2015 - Turkmenistan attracting foreign partners to develop offshore fields

By Huseyn Hasanov– Trend:

A two-day “Oil and gas industry of Turkmenistan – opportunities for investments” forum begins its work in London Sept. 29, said the message of the ministry of petroleum and mineral resources of Turkmenistan.

The message said that the meeting with representatives of business circles of the world held in the format of a "round table" is organized by the State Agency for Management and Use of Hydrocarbon Resources under the President of Turkmenistan.

The prospects of development, organizational and legal framework for investment in the oil and gas sector of Turkmenistan will be discussed during the meeting.

“Special emphasis will be placed on expanding international cooperation in the development of hydrocarbon resources of the Turkmen sector of the Caspian Sea, as well as the possibilities of their transportation to the world markets,” said the message.

The venue of the "round table" is expected to be an effective platform for the discussion of new projects of the mutually beneficial partnership in the oil and gas sector.

"The dynamic development of the economy of Turkmenistan, its favorable geographic location, political stability and a favorable investment situation in the country, enshrined in the national legislation corresponding to the relevant international standards together with the huge hydrocarbon resources create significant incentives for the influx of foreign investments in the fuel and energy complex,” the statement said. “This is strategically important for the country."

The special attention at the upcoming meeting in London will be paid to the major projects aimed at the development of the oil and gas industry of Turkmenistan, including the maritime production and transportation of hydrocarbons.

This issue is of particular relevance amid the strategy of diversifying the energy export routes to the world markets that is being implemented under the leadership of Turkmen President Gurbanguly Berdimuhamedov, the statement said.

The projects for constructing Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, as well as for transportation of Turkmen natural gas to the European market through the Caspian Sea are being developed intensively.

The participants of the round table will be informed about the new plans of Turkmen government on innovations in the legislation and opportunities for cooperation with foreign investors.

Moreover, the conference will highlight the great investment opportunities for foreign companies in Turkmenistan and will contribute to attracting new partners to the promising Turkmen market.
Turkmenistan’s hydrocarbon resources stand at 71.2 billion tons of oil equivalent, of which 18.2 billion tons account for license offshore blocks in the Turkmen sector of the Caspian Sea.

Edited by CN