Ashgabat hosted an International Investment Forum for the oil and gas sector of Turkmenistan. It brought together about 500 delegates from dozens of countries, including representatives of governmental agencies, oil and gas, service and consulting companies, international organizations, financial institutions, diplomatic and academic circles, as well as the mass media.

Speakers at the forum noted that over the past ten years Turkmenistan has made significant domestic and foreign investments in the production sector, thus establishing a solid foundation for development and diversification of the national economy. At the same time, the largest investments are channeled into the oil and gas sector.

It was emphasized that the demand for energy resources is projected to gradually increase along with the growth of the world economy and population, while the largest demand will be for natural gas. The reports delivered at the session “Offshore fields of the Caspian Sea: exploration experience and new investment opportunities” were of great interest to the forum participants. Foreign companies operating on the Turkmen shelf of the Caspian Sea, such as Petronas (Malaysia), Buried Hill (Cyprus), Eni (Italy) made presentations at this session.

A number of contracts with foreign companies were signed during the international forum, including for the bulk purchase of hydro-fined diesel fuel, aviation kerosene, calcined petroleum coke and other products from the Turkmenbashi complex of oil refineries.