OREANDA-NEWS. February 5, 2009. The perspectives and potential trends in oil and gas cooperation were the focus of the Turkmen-British energy business forum. It was organized by the Ministry of Oil and Gas Industry and Mineral resources of Turkmenistan and the UK Embassy in Ashgabat with the assistance of the Ministry of Foreign Affairs of Turkmenistan.

The leading British oil and gas and service companies and the specialized educational establishments including the London School of Economics and Political Science and the Kazakh-British Technical University had accepted the invitation to take part in this meeting that was the continuation of the energy forum which was held in London last spring. The participation of the representative delegation led by Head of UK Department of Energy and Climate Change International Mr. John Neve was another evidence of the intense interest that the international business community shows in establishing long-term mutually advantageous cooperation with energy-rich Turkmenistan. Along with Turkmenistan’s long-term partners – ‘the heavyweights’ of world’s oil and gas business British Petroleum and Shell other British companies including Fleur, AMEC, Worley Parsons willing to operate on the very promising Turkmen market presented their potential at the Ashgabat forum.

A video film about modern Turkmenistan’s achievements and the ongoing large-scale reforms building the platform for the country’s successful integration into the global economic system was presented before opening the business forum.

The high-ranking officials of the fuel and energy departments, in particular the Ministry of Oil and Gas Industry and Mineral Resources and the State Agency for Hydrocarbon Management and Use under President of Turkmenistan that coordinated the work with foreign partners, made presentations on the legal aspects of cooperation, the existing huge resource potential proved by independent experts and the priority approaches to developing Turkmenistan’s oil and gas industry and current investment policy.

Emphasis was put on the strategy elaborated on the initiative of President Gurbanguly Berdimuhamedov to realize the country’s energy potential through fostering wide international cooperation particularly on hydrocarbon exploration and production, modernization of processing industries, development of the pipeline infrastructure, application of advanced technologies and state-of-the-art equipment.

Those speaking at the forum noted that Turkmenistan’s energy policy aimed at diversifying transit of natural gas to international markets, i.e. multiple increases in the volume of fuel production, processing and export, was based on the explored as well as potential hydrocarbon reserves in the country. Thus, the results of the international audit carried out by the authoritative international consultant – the Gaffney, Cline & Associates firm last year enabled to rank Southern Yoloten-Osman field among the world’s five largest hydrocarbon deposits even at the preliminary stage.

The Turkmen specialists noted that relaying on accelerated development of oil and gas industry Turkmenistan intended to place its profound energy potential at the service of the whole mankind in order to achieve global energy security. That was proved by the UN Special Resolution on the Reliable and Stable Transit of Energy and Its Role in Ensuring Sustainable Development and International Cooperation approved on the initiative of Turkmenistan. This April Ashgabat is going to host the international forum to promote the Turkmen leader’s idea of building the universal model of energy security.

Speaking at the forum the top managers of the British companies said that today the business companies worldwide closely studied and analyzed the opportunities to implement joint projects offering their profound expertise, latest technologies and heavy investment to Turkmenistan. Reaffirming the willingness to invest in the large-scale energy projects the businessmen expressed belief that the policy of progressive reforms pursued by President of Turkmenistan Gurbanguly Berdimuhamedov and the favourable investment climate in the country were the firm social political and economic guarantees of security of investments. The discussion focused on cooperation in training highly qualified fuel and energy specialists where the London School of Economics and Political Science and the Kazakh-British Technical University could provide active support and assistance.

The forum participants unanimously called for holding such meetings which were a real opportunity to establish business contacts and discuss the specific aspects of cooperation on a regular basis. The participants expressed belief that the fruitful exchange of views which resulted in specifying the major trends and approaches to intensifying effective collaboration in compliance with the priorities of the policy of the Turkmen state would be an important step to move forward strategic oil and gas cooperation.

In his interview Mr. John Neve said that the British Government attached paramount importance to cooperation with Turkmenistan, intensification of intergovernmental energy collaboration. The guest said that the idea of conducting this forum had aroused during the visit of Minister of State for Energy Malcolm Wicks to Ashgabat in September 2007.

Mr. John Neve said that they were happy to realize this idea. He also noted that it was great pleasure for him to present the British companies operating in different sectors of the fuel and energy complex. Mr. John Neve said that the forum was a splendid opportunity for the British businessmen to find out the plans of the Government of Turkmenistan on the development of oil and gas industry and to share their experience in developing the deposits in the North Sea taking account Turkmenistan’s intention to expand offshore exploration.

The British high-ranking official said that both Turkmenistan nod Great Britain had the vast filed for developing long-term mutually advantageous partnership particularly in the investment sector. This issue raised at the business forum needed serious work. In conclusion the guest said that the British Government was interested in developing these relations and strengthening cooperation on a constructive and equal basis.