Turkmenistan Economic News

Turkmenistan plans to remove dependence of economy on fuel and raw materials
At a meeting of the Elder’s council in Turkmenbashi,President Berdymukhamedov said that, “the main goal of modernizing the Turkmen economy is to eliminate its dependence on energy resources,” and that he seeks to develop Turkmenistan’s industrial sector.
Source: trend.az, ng.ru  

Turkmenistan Looks for New Oil and Gas Structures on Caspian
Participants of the latest governmental meeting in Ashgabat reported on the process of exploring new oil and gas deposits in the Turkmen section of the Caspian Sea. Currently this process involves companies including Petronas, Dragon Oil, Buried Hill, RWE, and Itera. 32 licensed blocks are put up for an international tender. According to some calculations, these fields contain 11 billion of oil and 5,5 trillion of gas, not including already contracted blocks. Talks are underway with BP, Chevron, TX Oil, ConocoPhilips, Marathon, ExxonMobil, and Mubadala. Ashgabat considers product sharing agreements a priority for its economy, negotiating directly with partners.
Source: trend.az