Türkmennebit (Turkmen Oil) State Concern, the national company of Turkmenistan specializing in oil production, is expected to hold talks with interested foreign companies to attract investments to develop new licensed oil prospective onshore blocks in Turkmenistan.
The relevant proposal was voiced by Shahym Abdrakhmanov, the Deputy Chairman of the Turkmen Government overseeing the country's oil and gas industry, during the online cabinet meeting hosted by President Serdar Berdimuhamedov on Friday, according to the country’s official media.
The new licensed oil prospective onshore blocks is expected to be identified by a special commission composed of representatives of relevant government agencies.
Serdar Berdimuhamedov emphasized that full-scale use of Turkmenistan’s rich hydrocarbon resources and attracting investments to the industry contribute to expanding a fruitful and mutually beneficial partnership with foreign business circles interested in participating in joint projects implemented in the country. Stating the importance of continued comprehensive work in the oil and gas sector, the Head of State drew the attention of the Vice-Premier to the need for a detailed study of this issue.
The cabinet meeting discussed priority issues of state affairs and considered drafts of a number of documents.