On Thursday, April 14, President of Turkmenistan Serdar Berdimuhamedov, who is on a holiday visit to the Balkan region, held an offsite meeting of the Cabinet of Ministers, at which issues of the socio-economic development of the western region of the country were discussed, relevant reports were heard, and drafts of a number of documents were considered.

 During the meeting, Vice-Chairman of the Cabinet of Ministers Shakhym Abdrakhmanov reported on the state of affairs in the supervised fuel and energy sector, the implementation of the instructions of the President of Turkmenistan and the solution of tasks for the timely development of national investments allocated to the oil and gas complex.

 Information was also provided on the measures being taken in accordance with the Decree of the head of state on providing financial support to the State Concern «Turkmennebit» to finance the production of additional volumes of oil in the coming two years.

 A separate topic of the report was the steps taken to carry out the necessary repair work at a number of oil and gas fields and purchase specialized equipment.

 In this context, the results of the international tender announced by the State Concern «Turkmennebit» with the participation of foreign companies were reported.  Based on its results, the most profitable commercial offers were determined and it is planned to conclude relevant contracts.

 President Serdar Berdimuhamedov focused on the modernization of the enterprises and institutions of the complex, production areas for the rational and efficient use of the natural resources of the Balkan velayat, oil and gas reservoirs, the need to ensure deep processing of oil and gas, and the widespread introduction of advanced technologies.

 Among the priority tasks are the acceleration of prospecting and exploration activities in the coastal promising zones of the Caspian Sea, the proper work on the discovery and development of new deposits here, and the involvement of the private sector and foreign investment in this process.

 In this context, the head of Turkmenistan addressed the vice-premier with a number of specific instructions related to the continuation of mutually beneficial cooperation and exchange of experience with all interested foreign partners, including in the field of increasing the productivity of oil and gas wells, taking measures to stimulate investment activity, and implementing new joint projects.