Turkmenistan will prepare a feasibility study for the Conceptual Development Strategy for the Turkmenbashi Complex of Oil Refineries and the Seyda Oil Refinery.
Shahym Abdrakhmanov, the Deputy Chairman of the Turkmen Government overseeing the country's oil and gas industry, reported on the activities to develop the feasibility study during the cabinet meeting hosted by President Gurbanguly Berdimuhamedov at Ruhiyet palace in Ashgabat on Friday.
The Vice-Premier also informed about the outcome of the relevant international tender with the participation of foreign companies.
The feasibility study to be prepared envisages to determine the potential and specific long-term vectors of development of the Turkmenbashi Complex Of Oil Refineries and the Seydi Oil Refinery, study opportunities and areas for modernization of existing technological facilities, select new facilities for construction based on the demand in foreign markets for oil and petrochemical products and existing resource potential, improve competitiveness of the plants’ products, and enhance the quality of services rendered.
Following the report, the Turkmen President emphasized that the country pays great attention to the development of its fuel-energy sector through diversification, attracting investments, expanding cooperation with reliable foreign partners.
Focusing on the importance of expanding the range of competitive, high-quality, environmentally friendly products, the Head of State instructed the Vice-Premier to continue comprehensive work in this direction.
The Turkmenbashi refinery is the largest enterprise in Turkmenistan. In terms of its scale, it is comparable to the leading oil refining concerns. The refinery includes two plants, numerous oil depots and filling stations.