Serdar Berdymukhamedov instructed to continue identifying new oil fields

President of Turkmenistan Serdar Berdymukhamedov instructed to continue identifying new oil fields. This was reported by the State News Agency TDH following a meeting of the country's government.

The head of state heard a report by Deputy Prime Minister Shakhim Abdrakhmanov on the work of the oil and gas complex. The President emphasized the importance of identifying and developing new oil fields to further increase the potential of the fuel and energy complex, which is one of the main sectors of the country's economy. Berdymukhamedov addressed specific instructions to the deputy prime minister.

Abdrakhmanov noted in his report that development of Turkmenistan's fuel and energy complex is carried out at the expense of accelerated development of oil and gas fields, as well as drilling of new wells, which contributes to a significant increase in crude oil production. In this regard, it is planned to attract major specialized companies interested in participating in the ongoing industry projects.

Turkmenistan has a huge potential of proven, probable, possible reserves and resources of hydrocarbon raw materials. Almost the entire land area and the Turkmen sector of the Caspian Sea are considered prospective for oil and gas. Currently, only 30% of the country's territory has been explored for hydrocarbon deposits. According to the company, the country's hydrocarbon resources are estimated at more than 71 billion tons of oil equivalent, of which oil accounts for more than 20 billion tons and gas for more than 50 trillion cubic meters.