The volume of foreign investment in the development of Turkmenistan's fields in the Caspian Sea reached $19 billion.

Foreign companies are operating four blocks in the Turkmen sector of the Caspian Sea - at the moment the funds invested in the development of these fields reached $19 billion, head of Turkmenneft Guichelgdi Baigeldiyev said during his presentation at the International Oil and Gas Investment Forum in Ashgabat.

In particular, DRAGON OIL, operating under a contract in the territory of Cheleken, as of early April 2021 had invested about $7.5 billion.

PETRONAS Malaysia invested $11 billion, producing more than 2.5 million tons of oil and 9.5 million tons of condensate since the start of its operations. Gas production reached 27 billion cubic meters, of which 25 billion cubic meters were exported.

Buried Hill invested $155 million in the Turkmen oil and gas sector and ARETI International Group of Companies invested over $33 million.

In detailing each company, the speaker emphasized that Turkmenistan and directly SC "Turkmenneft" approve and will fully support direct investment in the development of hydrocarbon reserves, which have the Turkmen zone of the Caspian Sea. Thus, according to estimates by international experts, the volume of oil reserves is 12.1 billion tons, and natural gas - 6.1 trillion cubic meters.

Source: orient.tm