Russian Lukoil is likely to come to the Turkmen sector of the Caspian Sea

President of Turkmenistan Gurbanguly Berdimuhamedov met with the head of the Russian oil and gas company Lukoil, Vagit Alekperov, in Ashgabat. During the audience, an exchange of views took place on the prospects for the development of the oil and gas industry in Turkmenistan, and the possibility of Lukoil’s participation in the development of hydrocarbon resources of Turkmenistan.

Given the active participation of this company in the development of the Caspian Sea, there is every reason to assume that during the meeting a special attention was paid to the topic of joint activities in the Turkmen sector of this sea. In particular, given the fact that a Russian executive had studied investment climate and local laws for protection of foreign investment in the development of oil & gas fields before his visit to Turkmenistan. Therefore, there is every reason to suggest that Alikperov’s arrival in Ashgabat is connected with Lukoil’s strategic interests and Turkmenistan’s oil and gas potential.

Moreover, when meeting with Russian envoys, Berdimuhamedov invariably notes that Turkmenistan is always open for mutually beneficial partnerships with foreign partners, including Russia, which is a strategic partner of Turkmenistan.

A good background for the development of cooperation is traditionally friendly relations between Russia and Turkmenistan, which are frequently referred to during meetings at all levels.

Therefore, there are all favourable conditions for strengthening business ties in such an important area as the oil and gas industry, including the Caspian. In particular in light of the signing of the Convention by the heads of the Caspian littoral states, which took place more than a year and a half ago. It’s high time to take more active stance in the development of our common wealth.

A reliable source told ORIENT that the Turkmen leader said at the meeting, that proposals for cooperation should be worked on with the state concerns Turkmennebit and Turkmengaz.

Earlier, Russian media reported that Lukoil requested permission from the Russian authorities to explore the three Caspian fields without bidding round.