OREANDA-NEWS. March 31, 2008. The prospects of collaboration in developing Turkmenistan’s gas industry for foreign business were the key agenda item of the Exploration, Prospecting and Development of Gas Fields and Mineral Resources in Turkmenistan International Exhibition and Conference opened in the Turkmen capital.

The forum organized by the Turkmengaz State Concern, the Turkmenneftegazstroy State Concern, the Turkmengeologiya State Corporation and RPI Consulting Company was held at the Exhibition Centre in Ashkhaabad.

In the greeting address to the participants of the international exhibition and conference President Gurbanguly Berdimuhamedov said that international co-operation, collaboration with foreign partners in large-scale investment projects and the programmes on exploration and development of hydrocarbon deposits in the Turkmen sector of the Caspian Sea, modernization of processing industries, application of modern equipment and advanced technologies, development of oil and gas infrastructure acquired special importance in the context of the energy policy pursued by the Turkmen state.

Those speaking at the conference noted that the intense interest that the old as well as potential partners showed in mutually advantageous co-operation with Turkmenistan was evidenced by the representation of the well-known oil and gas and service companies, the leading equipment producers and manufacturing planners from the United States, Russia, Kazakhstan, China, the countries of Europe and Asia at the conference. These included the top managers and specialists of the giants off oil and gas business such as Gazprom, Chevron, ExxonMobil, Lukoil, Shell, CNPC, Petronas, BP, Total, Burren, Schlumberger and others.

Speaking at the forum the high-ranking officials of Turkmenistan fuel and energy sector introduced the key trends, plans and priorities of development of the national fuel and energy sector for the period till 2030 to the foreign colleagues. The video film about the grandiose reforms initiated in the country, in particular this strategic sector of Turkmen economy was presented to the participants.

The participants noted that having the profound energy potential Turkmenistan consistently and steadily implemented the strategy to diversify its development in the national interests as well as its partners’ interests. Turkmenistan’s oil and gas resources had been proved the large explored occurrences and the geological hydrocarbon reserves on land and in the Turkmen sector of the Caspian Sea, which would promote increasing hydrocarbon production in the nearest future. In this regard emphasis was put on significance of the recently explored Southern Yoloten-Osman field.

The unprecedented measures the Turkmen state took to develop and modernize the oil and gas industry aiming to strengthen the material and technical basis of the oil and gas enterprises, to produce a broad range of high-quality oil products were a focus of the reports. The project on modernisation and technical reconstruction of the Turkmenbashi oil refineries enabling to bring it to the leading positions in national as well as regional chemical industry were cited as a vivid example.

Speaking at the forum the foreign partners highly appreciated long-term mutually advantageous co-operation promoted by the open door policy pursued by President Gurbanguly Berdimuhamedov, the favourable investment climate and economic advance.

Expressing gratitude for the invitation to take part in the oil and gas industry exhibition and conference, the first of three scheduled for this year the guests emphasized that such meetings gave an opportunity to get well acquainted with the mutual potential, to strengthen the business contacts and to expand the field of fruitful collaboration.