On May 22, President of Turkmenistan Serdar Berdimuhamedov held a regular meeting of the Cabinet of Ministers via digital means, where a number of state matters were discussed.

During the meeting, Vice-Chairman of the Cabinet of Ministers Guvanch Agajanov reported on the development of licensed offshore blocks located in the Turkmen sector of the Caspian Sea.

As reported, fruitful cooperation in the oil and gas industry with major foreign companies is underway to attract foreign investment, based on established legal and economic conditions and a favorable investment climate.

In particular, large-scale work is being carried out and important projects are being implemented to develop licensed offshore blocks in the Turkmen sector of the Caspian Sea.

In this regard, the Vice-Chairman submitted a corresponding proposal for the head of state's consideration.

After hearing the report, President Serdar Berdimuhamedov emphasized that the development of oil and gas fields in the Turkmen sector of the Caspian Sea contributes to the expansion of hydrocarbon reserves and the attraction of foreign investment.

Having approved the proposal for further joint activities with foreign partners in this area, the head of state instructed the Vice-Chairman to carry out the relevant work.