OREANDA-NEWS. November 20, 2009. The 14th International Conference on Development of Oil and Gas Industry in Turkmenistan and International Cooperation in the Epoch of New Revival is arranged at the Exhibition Centre in Ashgabat. This year, the prestigious oil and gas forum has brought together over 600 participants – the scientists and experts, the specialists of the leading fuel and energy companies from all over the world and the sectoral ministries and departments of Turkmenistan, the local and foreign journalists and diplomats.

The keen interest in the international conference is conditioned by Turkmenistan’s profound economic potential and abundant hydrocarbon reserves as well as the favourable investment climate and the Turkmen leader’s constructive foreign-policy initiatives aimed at guaranteeing global energy security that are welcomed by global community.

The welcoming statement of President Gurbanguly Berdimuhamedov to participants of was presented at the ceremony. In his address the Turkmen leader specified that Turkmenistan drew increasing interest among foreign partners as a country cooperating with many states and meeting the commitments undertaken. Standing steadfast to diversification of international energy cooperation Turkmenistan consistently implemented the principles of diversification of transit of energy to world markets

The specialists of the national oil and gas departments made the reports and presentations on the prospects for further development of the sector and the measures taken by the country to diversify transit of energy that promote employing Turkmenistan’s profound potential as well as achieving global energy security.

The major tasks set to the oil and gas enterprises of the country include active development of new hydrocarbon deposits discovered in the territory of Turkmenistan in recent years, attraction of foreign investments, enhancement of cooperation with the world’s leading companies that have the profound experience in this field.

Several large deposits such as Garabil, Gurrukbil, the Central Karakum group and the fields situated on the right bank of the Amu Darya River are actively developed nowadays. These include Southern Yoloten-Osman, the recent audit of which proved that hydrocarbon-rich Turkmenistan ranks among the top energy producers in the world.

All this enable Turkmenistan’s fuel and energy sector to face the future with confidence and arouse keen interest among the world-renowned companies, which stand ready to cooperate with Turkmenistan and offer advanced technologies. For this purpose the delegations from the EU member states, the Russian Federation, the United States, Germany, Great Britain, China, Malaysia and other states arrived to Ashgabat to take part in the conference. Addressing the forum George A. Krol, Deputy Assistant Secretary for South and Central Asian Affairs noted that Turkmenistan had the huge energy potential, and therefore the development of constructive cooperation and integration into world energy market was welcomed by foreign partners.

One of the main themes of the conference is attraction of foreign investments, achievements and prospects of exploration and development of hydrocarbon resources, oil and gas processing and petrochemistry as well as Turkmenistan’s role in guaranteeing universal energy safety and significance of the oil and gas sector as an accelerator of economic and social development of Turkmenistan.

The main themes under discussion were attraction of foreign investments, the achievements and prospects for hydrocarbon exploration and production, further development oil and gas processing and petrochemical industry, the role of our country in achieving global energy security and the important of oil and gas industry as a catalyst of Turkmenistan’s economic and social progress.

On the first day of the conference the specialists of the world’s leading companies including Chevron, RWE, ExxonMobil, Total, Dragon Oil, BP, Schlumberger, who underscored the need to further strengthen cooperation with Turkmenistan, the profound potential of our country as a world’s energy producer, whose role in achieving global energy security was enhanced with every passing year. Standing steadfast to the international commitments our country has gained the reputation of a dependable partner on world energy market. This is vividly illustrated by the two-day energy forum in the Turkmen capital that provides a wide platform for discussing on the important issues for global development.