Turkmenistan invites international investors to take part in a number of projects in the fuel and energy sector
The goal of the forum, which started in Paris, is to expand opportunities for attracting foreign direct investment in all segments of the energy industry of Turkmenistan, said the Advisor to the President of Turkmenistan on oil and gas issues Ashyrguly Begliev, speaking on April 24 at the opening of the event.
These segments are related to the production, transportation and refining of oil and gas, the generation of renewable energy sources, transportation, construction, and the environmental aspects of hydrocarbon field development.
As Begliev emphasized, Turkmenistan can offer international investors projects to develop the world's largest onshore gas field - Galkynysh, promising blocks on the Turkmen shelf of the Caspian Sea and the effective development of solar and wind energy and to supply reliable, sustainable, environmentally friendly energy to global markets energy.
In accordance with the National Development Program of Turkmenistan, several large projects with the attraction of foreign investment are planned to be implemented in the country’s oil and gas complex in the near future, noted the Advisor to the President of Turkmenistan.
These include: development of the next stages of the supergiant Galkynysh field; participation in the development of licensed blocks in the Turkmen sector of the Caspian Sea; investment projects to increase oil recovery from productive formations; oil and gas chemistry; construction of underground gas storage; projects for the construction of turnkey industrial facilities.
To participate in these projects, potential partners are offered several types of forms of mutually beneficial cooperation, Begliev noted. These are: service contracts with risk in accordance with the current law of Turkmenistan “On Hydrocarbon Resources”, service contracts for certain types of work in the mining, refining, construction oil, gas and chemical industries, the creation of joint service companies for the maintenance and repair of oil and gas equipment, such as gas turbines, compressor and pumping equipment.
“Among the main factors of the growing attractiveness of Turkmenistan for foreign investors is the stable economic and political situation in the country, as well as the legislative framework and state guarantee,” the adviser to the President of Turkmenistan on oil and gas issues claimed.
He expressed confidence that the current International Forum will contribute to further strengthening relations between Turkmen and international oil and gas companies and will serve as a good platform for attracting foreign investment to the country.
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