Turkmen president talks about energy policy

The full development of rich hydrocarbon resources of the Caspian Sea, one of the largest world deposits of oil and gas, is the strategic direction of the development of the fuel and energy complex of Turkmenistan, President Gurbanguly Berdimuhamedov said.

The Turkmen Cabinet of Ministers has held a meeting where a report of the State Agency for the Management and Use of Hydrocarbon Resources under the President of Turkmenistan was presented. The participants in the meeting discussed the progress of the development of hydrocarbon deposits in the Turkmen sector of the Caspian Sea, comprehensive measures aimed at increasing the volume of oil and gas production, including the construction of new wells and other infrastructure, as well as development of innovative technologies.

At the moment Petronas, Dragon Oil, Buried Hill, RWE and Itera are involved in exploration works in the Turkmen section of the Caspian Sea. Turkmenistan is currently negotiating with BP, Chevron, TX Oil, ConocoPhilips, ExxonMobil and other companies.