Oil & Gas Sector Makes Turkmenistan Attractive to Foreign Investors – President

ASHGABAT. June 6 (Interfax) – The development of the oil and gas industry in Turkmenistan and the creation of a favorable investment climate will help attract foreign investors, Turkmen President Gurbanguly Berdimuhamedow believes.

“The oil and gas industry is now on the rise. Significant reserves of hydrocarbons and a favorable investment climate are making the Turkmen market highly attractive to foreign partners,” Berdimuhammedow wrote in a message of greetings to an international exhibition on the exploration of oilfields, oil extraction and refining under way in Ashgabat.

The message was published in the national media on Friday.

It says that Turkmenistan is actively developing and upgrading its oil and gas sector, which allows the country to increase extraction and refining.

According to the Turkmen Oil and Gas Industry Ministry, oil exports could jump to 80 million tonnes in 2030 from the 9.8 million tonnes of 2007. Production of liquefied natural gas is expected to increase from the current 400,000 tonnes to 2 million tonnes in 2020.

By now about 170 deposits of hydrocarbons have been discovered in Turkmenistan, and only a third of them are being developed.

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