Azernews.Az

By Laman Ismayilova

Several projects are being implemented in Turkmenistan’s mining industry by foreign investor companies under the production sharing agreements (PSA), the Neutral Turkmenistan newspaper reported.

In particular, Dragon Oil (the UAE), Petronas (Malaysia), RWE (Germany), Eni (Italy), CNPC (China) and several other companies are actively developing offshore and continental fields and increase annual volume and their share in total volume of oil and gas output by Turkmenistan, says the article.

The share of oil output by joint and foreign companies increased by 54 percent in 2015, as compared to 15.6 percent in 2006, and this figure reached almost 56 percent in the first half of 2016.

The share of gas output by foreign companies amounted to more than 25 percent in 2015 and 28.5 percent during the first six months of 2016.

Meanwhile, foreign investments in oil and gas output total tens of billions of dollars and continue to rise, according to the article.

Energy-rich Turkmenistan is producing about 70-80 billion cubic meters of gas a year.

Most of Turkmenistan's proven gas reserves are located in the Amu Darya basin in the south-east and in the Murgab South Caspian basins in the western part of the country. The Central Asian country has also been lately engaging in gas talks with China, India and Afghanistan.

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