New projects will be implemented to develop hydrocarbon fields in the Turkmen sector of the Caspian Sea

Large-scale systematic work continues to actively attract foreign investments into the oil and gas industry of Turkmenistan, increase the production of hydrocarbon resources, and effectively utilize the rich reserves of the Caspian Sea. At the Government meeting held today, the Deputy Chairman of the Cabinet of Ministers reported on the measures being taken to develop the licensed marine blocks located in the Turkmen sector of the Caspian Sea.

As noted, the reliable legal and economic conditions, as well as the favorable investment climate established in our country, open up wide opportunities for effective cooperation in the fuel and energy complex with major and leading foreign companies of the world. Currently, strategically important projects for the development of hydrocarbon fields are being successfully implemented in relevant areas of the Caspian Sea. Based on this, the Vice-Premier submitted new proposals to the Head of State for consideration to further advance this productive work in the oil and gas sector.

Honorable President Serdar Berdimuhamedov listened to the report and emphasized that the consistent development of oil and gas fields in the Turkmen sector of the Caspian Sea plays a major role in systematically increasing the country's hydrocarbon reserves and attracting stable foreign investments. The Head of State fully supported the submitted proposal to continue joint work in the energy sector with international partners at a new stage and instructed the Vice-Premier to fulfill specific tasks in this regard.