“LUKOIL” is interested in implementing oil and gas projects in the Turkmen sector of the Caspian sea

The possibility of implementing joint projects for the development of hydrocarbon resources in Turkmenistan was discussed at a meeting between President Gurbanguly Berdimuhamedov and the head of the Russian oil and gas company “LUKOIL”, Vagit Alekperov.

During an audience held in Ashgabat on Wednesday, the Russian businessman confirmed “LUKOIL”'s interest in cooperating with our country and implementing mutually beneficial joint projects.

The parties discussed key aspects of Turkmenistan's energy strategy, such as diversification of energy supplies to world markets, capacity building in the mining and processing segment, development of the gas and petrochemical industry, and production of high - tech products.

A separate topic was discussed the possibilities of joint activities in the Turkmen sector of the Caspian sea. According to Alekperov, Turkmenistan has a favorable investment climate and an appropriate legal framework, which makes it possible to invest effectively in the development of oil and gas fields and the construction of infrastructure. Therefore, “LUKOIL” is interested in implementing projects in these areas.

In turn, the President of Turkmenistan advised to work out the existing proposals together with the State concerns "Türkmennebit" and "Türkmengaz" and submit them for consideration.

Emphasizing that Turkmenistan is always open for productive interaction with foreign partners, Gurbanguly Berdimuhamedov noted the constructive nature of the Turkmen-Russian relations. This creates favorable conditions for the activation of business ties, including in the oil and gas industry, which is strategic for both countries, which are world energy powers and have impressive reserves of hydrocarbon resources.

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