OREANDA-NEWS. March 05, 2011. The ceremony of opening the Oil and Gas of Turkmenistan-2011 International Conference organized by the Ministry of Oil and Gas Industry and Mineral Resources and the Chamber of Commerce and Industry of Turkmenistan took place in the Pan Pacific Hotel in the capital of Singapore. The forum brought together the members of the government delegation of our country and over 200 managers, scientists and experts from 105 leading oil and gas companies from all over the world.

The foreign participants represented the world-renowned oil and gas companies from 26 countries including BP, ExxonMobil, ENI, Itochu, CNPS, Petrofak, Petronas, Buried Hill, and the Asian Development Bank and the international banks of Switzerland, Germany and Japan. Turkmenistan was represented at the forum by the heads of oil and gas and chemical industries and research institute and specialists from a number of the sectors of the national economy.

The pavilions showcasing the activities carried out by the Ministry of Oil and Gas Industry and Mineral Resources, the State Agency for Hydrocarbon Resources Management and Use under the President of Turkmenistan, the Turkmennebit State Concern, the Turkmengaz State Concern, the Turkmenhimiya State Concern, the Turkmengeologiya State Corporation to modernize further the fuel and energy sector were arranged on the territory allocated for the conference.

The welcoming address of the President of Turkmenistan to participants of the Oil and Gas of Turkmenistan-2011 Conference was presented at the opening ceremony. In the Turkmen leader’s message it was noted that conducting such an important scientific forum vividly evidenced the interest in Turkmenistan, one of the countries with largest oil and gas reserves in the world.

Emphasizing that the favourable conditions had been created for foreign investments, President Gurbanguly Berdimuhamedov noted that currently, Turkmenistan was not limited to effective use of abundant deposits of natural wealth to improve the welfare of our people but intended to allocate them for the benefit of all mankind.

Underscoring the importance of the conference, the Turkmen leader emphasized that the goals of this conference to promote effective and mutually advantageous cooperation between Turkmenistan and countries of Asia and the Pacific, attract investments of oil and gas companies in the ongoing projects in our country and adopt innovative technologies used worldwide nowadays.

On the first day the forum participants discussed Turkmenistan’s growing role in the international oil and gas industry and, in particular, in the Asian region viewed as most promising and dynamically developing energy consumer market. In particular, the participants focused in their reports on profound significance of existing gas pipelines Turkmenistan-China and Turkmenistan-Iran and the future project of the Turkmenistan-Afghanistan-Pakistan-India gas pipeline, which was speeded up and actively promoted, for the progress of the region.

Forum participants also focused on the timeliness and importance of President Gurbanguly Berdimuhamedov’s international initiatives put forward by the Turkmen leader at the session of the United Nations General Assembly for further development of international cooperation in the socio-economic, energy and environmental spheres.

Also, the forum agenda included the presentations of the investment opportunities of the Turkmen oil and gas sector organized by the state-run fuel and energy enterprises and a number of foreign companies.

In the afternoon the heads of the Turkmen fuel and energy sector held the bilateral meetings with the top managers of the well-known foreign companies such as ExxonMobil, ENI, CNOOC, JGC Corporation, Bumi Armada, Technip. An exchange of views and experiences took place to identify new ways of mutually beneficial cooperation in many directions. The issues under discussion included enhancement of the potential of the oil and gas industry, exploration of gas-and-oil bearing areas, development of gas and oil deposits, increase in hydrocarbon production, oil and gas refining, diversification of infrastructure to transit of energy to world markets, reduction of costs at all stages from oil and gas exploration to transportation, application of scientific and technological advances in industry, modernization of production infrastructure, construction of new and reconstruction of existing production facilities and stable and reliable transit of energy

The outcomes of the conference will certainly facilitate implementation of new international initiatives put forward President Gurbanguly Berdimuhamedov to maintain global peace, security and sustainable development.