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Turkmenistan summarizes first quarter oil and gas industry results

On April 4, a reporting meeting on the industry's performance for the first quarter was held at the Central Building of the Oil and Gas Complex of Turkmenistan.

The meeting participants discussed the implementation of the objectives set by the President at the Cabinet of Ministers meeting on April 3 and also considered specific paths for further development of the country's energy sector. This was reported on the website oilgas.gov.tm.

In his speech, Deputy Prime Minister Guvanch Agajanov, who oversees the industry, noted the importance of effectively implementing the strategic goals of the domestic fuel and energy sector. One of the key events of the period was the signing by the President of a decree authorizing the State Concern “Türkmengaz” to enter into a contract with “CNPC Amudarya Petroleum Company Ltd.” (China). This agreement provides for the “turnkey” design and construction of facilities within the fourth phase of the “Galkynysh” field development, including a facility for processing 10 billion cubic meters of commercial gas per year and drilling the required production wells. This project is intended to propel the national fuel and energy industry to a new level of development.

Industry leaders presented detailed reports on oil and natural gas production results during the reporting period, the increase in crude exports, and the regular drilling of exploratory wells to expand the country's resource base. Particular attention was paid to the progress of work at the “Galkynysh” field, construction monitoring of the Serhetabat-Herat section of the TAPI pipeline, known as "Arkadagyň ak ýoly," and ensuring the smooth operation of production facilities.

The issues of finding new deposits, implementing digital systems, and expanding cooperation with leading foreign companies were also discussed.

At the conclusion of the meeting, Guvanch Agajanov emphasized the need for ongoing monitoring of major investment projects and the introduction of innovative technologies into the industry. High-level preparations for the upcoming International Scientific and Practical Conference "Turkmenistan – People's Republic of China: 20 Years of Strategic Cooperation in the Gas Sector" were identified as a separate priority.