In the first quarter of the year, the oil and gas sector of the economy of Turkmenistan showed a steady growth trend, which is confirmed by the figures for the production and export of hydrocarbons and products of their processing, announced at a government meeting on Saturday. According to these data, the plan for oil supply was fulfilled at the level of 101.9 percent, for oil refining at refineries - by 103.6 percent, for the production of gasoline - by 104.5 percent, diesel fuel - by 108.6 percent, polypropylene - by 104.5 percent. In January-March, the plan for the extraction of natural and associated gas was fulfilled by 104.5 percent, the export of «blue fuel» - by 102.8 percent.
Turkmenistan is a major supplier of hydrocarbon raw materials and products of its deep processing not only in Central Asia, but also outside the region.
To increase productivity and improve the operating capacity of FEC enterprises, comprehensive measures are being taken to strengthen the resource base, introduce innovative technologies into production, and attract domestic and foreign investments. Noting at a government meeting that, in accordance with the Investment Program for the current year, work should be carried out to implement the second stage of the development of the «Galkynysh» gas field, President Serdar Berdimuhamedov ordered to take practical steps to implement large investment projects, developing new oil and gas fields in the Caspian Sea and attracting outside investment.
New investment projects of the FEC of Turkmenistan, including offshore blocks, are planned to be presented at the International Investment Forum, which will be held at the end of April in Dubai, UAE. In this regard, it can be reminded that, speaking on the 6th of April at the first meeting of the Mejlis of Turkmenistan of a new convocation, President Serdar Berdimuhamedov called on legislators to improve the Laws of Turkmenistan «On Foreign Investments» and «On Hydrocarbon Resources» in order to bring the legal framework of activities carried out in this area in line with modern requirements. As the head of state noted, Turkmenistan has colossal hydrocarbon reserves by world standards, taking this into account, the task of intensive development of the national economy by equipping the industrial sector with high technologies and attracting foreign capital is put at the forefront.
