OREANDA-NEWS. September 11, 2008. Further collaboration with foreign businesses on developing Turkmenistan’s and Azerbaijan’s fuel and energy complexes were a focus of the first joint conference Oil and Gas Potential of Azerbaijan and Turkmenistan: Energy, Economy, Ecology. Partnership Strategy, which was held along with the two-day exhibition in Baku, Azerbaijan.

The well-famous oil and gas and service companies, world’s leading equipment and technology producers, large financial organisations and energy agencies from over 30 countries worldwide including the European Union that Turkmenistan had secured the intention to co-operate with by the Memorandum of Understanding in Energy Co-Operation had accepted the invitation to take part in the large-scale energy forum covering all aspects of possible partnership.

The conference participants the heads and leading specialists of the fuel and energy departments, experts, scientists, geologists and ecologists from Turkmenistan and Azerbaijan considered the important issues of mutual inters. These included the global tendencies in energy industry development, the problems and perspectives of development of hydrocarbon resources, the feasibility of the international and regional projects, etc.

The reports presented by the top managers of the world’s oil and gas companies including BP, Petronas Carigali, Dragon Oil, CNPC, Wintershall Нolding AG showed that the long-term as well as potential foreign partners thoroughly studied and worked at the opportunities of closely co-operating with the fuel and energy enterprises in Turkmenistan and Azerbaijan that had gained the status of the world’s energy producers. In particular, the reports presented by the heads of the Turkmen fuel and energy departments on the key aspects of the national policy aimed at attracting foreign investments, the current potential of Turkmenistan’s oil and gas industry, various forms of co-operation based on the priorities set forth by the National Programme on Oil and Gas Industry Development were of intense interest to the foreign businessmen. The Turkmen specialists presented the reports on unprecedented technology modernization and expansion of the country’s oil and gas sector and the ongoing large-scale investment projects aimed at establishing state-of-art production infrastructure.

The scientific and ecological aspects of co-operation were a focus of the second, final day of the conference. As is known from the first days of independence Turkmenistan actively contributes to global environmental efforts standing steadfast to the international commitments. By ratifying the fundamental international environmental documents Turkmenistan demonstrated best of all its position prioritizing the environmental issues.

Achievement of ecological security, protection of the environment along with the efficient and effective use of the abundant natural resources as well, to widely apply advanced environmentally friendly technologies are the priorities of Turkmenistan’s national policy, the essential component of the large-scale reform programmes initiated by President Gurbanguly Berdimuhamedov. Thus, the project on technology modernization of the leading petrochemical enterprise – Turkmenbashi compels of oil refineries has the goals to rehabilitate the ecology of the Caspian Sea whose biological and natural resources are protected by the state. Turkmenistan carries on the large-scale environmental activity. The short-range projects will enable to increase environmental security of petroleum refining industry as well as to efficiently use the natural resource, to extend the life of manufacturing equipment.

Speaking at the forum the foreign partners highly appreciated the work carried on in Turkmenistan and the prospects of mutually advantageous co-operation promoted by the favourable business and investment environment, the open door policy and accelerate economic growth in Turkmenistan.

Expressing gratitude for inviting to take part in the energy forum the foreign guests emphasized that such meetings were a splendid opportunity to have a clearer view of the existing potential, to strengthen business contacts, to expand the field of fruitful co-operation. The participants were unanimous that the joint conference and exhibition providing an opportunity to vividly demonstrate both countries’ achievements as well as to discuss the approaches to and trends in further joint activity testified to the priorities of the neighbouring countries that relied on comprehensive development of the strategic sector of national economy – oil and gas industry through attracting the bets international practice and advanced science intensive technologies.

The participants of the Turkmen-Azerbaijani exhibition and conference issued the joint statement to the Presidents of Turkmenistan and Azerbaijan expressing belief that the results of the conference would foster large-scale development of the hydrocarbon potential of the Caspian Sea and implementation of new joint projects.