Turkmenistan releases data on PSA investments
The total amount of investments in Turkmenistan for implementation of joint projects in the oil and gas industry amounted to $1.342.750 billion in the first ten months of 2012, the local media reported, with reference to the State Agency for Management and Use of Hydrocarbon Resources under the President.
Based on contracts of production sharing agreement (PSA), companies from the UK, Russia, Germany, Italy, Malaysia,UAE, Canada and China are operating in Turkmenistan. Petronas, Dragon Oil, Buried Hill, RWE, Itera and Zarubezhneft are involved in development of the Turkmen sector of the Caspian Sea, onshore work is implemented by ENI (purchased shares of Burren Energy) and CNPC.
At a recent government meeting, President Gurbanguly Berdymukhamedov emphasized that complex modernization and technical upgrading of energy companies, strengthening resource base of the industry, including by accelerating the industrial development of new oil and gas fields, as well as creating the multiple supply chains of Turkmen energy to world markets are important aspects of Turkmenistan's energy strategy.
The President noted the expediency of further strengthening mutually beneficial cooperation with the world's leading oil and gas companies, attraction of foreign investment.