ASHGABAT: Turkmenistan is intensifying its efforts to develop oil fields on the Caspian Sea shelf, with a strategic focus on attracting investment in offshore blocks and enhancing production at mature fields. The country aims to leverage international partnerships to ensure sustainable growth in its energy sector, as highlighted at a recent international conference.

According to Trend News Agency, Maksat Babayev, Chairman of the Turkmengaz State Concern, addressed these priorities during the plenary session titled ‘The latest trends in the global energy markets and prospects for mutually beneficial cooperation’ at the international conference and exhibition ‘Oil and Gas of Turkmenistan – 2024’ held in Ashgabat. Babayev emphasized that the development of fields in the Balkan region would be pursued with equal importance, underscoring the significant participation of international companies such as ENI, Dragon Oil, and Petronas in Turkmenistan’s contract areas for oil and gas extraction.

Babayev further noted
that collaboration with international partners is crucial for maintaining equilibrium and fostering sustainable growth in the region’s energy sector. This approach is seen as vital for keeping the region stable and competitive in the global energy landscape.

The ‘Oil and Gas of Turkmenistan – 2024’ forum serves as an international platform that convenes leading national and international oil and gas companies, industry experts, and financial institutions. The primary objective of the event is to enhance dialogue on sustainable development in the energy sector and to attract investments to Turkmenistan’s oil and gas industry. Discussions at the forum cover prospects for field development, modernization of processing facilities, and the introduction of advanced technologies, alongside the environmental aspects of hydrocarbon production.