Turkmenistan Prioritises Foreign Investment to Boost Economy

Turkmenistan is accelerating its efforts to attract foreign investment into its oil and gas industry, with a focus on expanding production and advancing key projects.

In an address at the International Forum to Attract Foreign Investments in Turkmenistan’s Energy Sector held in Paris, President Serdar Berdimuhamedov highlighted the nation’s commitment to partnering with foreign companies. He emphasized the ongoing collaboration to develop oil and gas fields in the Turkmen section of the Caspian Sea and on land, aiming to boost production volumes through production sharing agreements.

“Today, together with foreign companies, we continue to develop oil and gas fields in the Turkmen section of the Caspian Sea and on land to increase their production volumes. This partnership, which attracts foreign capital, is mutually beneficial as it is carried out on the basis of production sharing agreements. In the future, we intend to scale up and intensify the dynamics of such cooperation; this is a key goal,” President Berdimuhamedov stated.

The President also highlighted the priorities of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline and the development of the Galkynysh gas field. Successful implementation of these projects is expected to diversify the country’s fuel and energy complex and bolster regional energy security.

The primary objective of the forum is to enhance the prospects of attracting foreign direct investment across all segments of Turkmenistan’s energy sector. The event aims to foster regional discussions on the sustainable future development of energy, reflecting Turkmenistan’s commitment to energy security and diversification.

As Turkmenistan seeks to expand its oil and gas production and develop critical infrastructure projects, the nation’s focus on attracting foreign investment underscores its determination to capitalize on its energy potential and contribute to regional energy stability and sustainability.