CAN YOU TELL US MORE ABOUT YOUR BOLD THREE-YEAR INVESTMENT PLAN?

 

Our future investments in Turkmenistan are focused on five key areas: increasing the volume of service and well maintenance work, expanding the drilling rig fleet to achieve an annual drilling rate of 15-20 new wells, implementing mechanical oil extraction technologies, conducting seismic surveys, and executing environmental projects to enhance energy efficiency and reduce emissions. Our strategic goals for the next three years include maintaining annual investments of at least $100 million, achieving a daily oil production level of 1,650 tons, and implementing pilot energy-efficient projects to reduce gas leaks and CO2 emissions.

 

AS ONE OF THE PIONEERS OPERATING THROUGH A PUBLIC-PRIVATE PARTNERSHIP CONTRACT IN TURKMENISTAN, HOW DO YOU ASSESS THE PPP SECTOR IN THE COUNTRY COMPARED OTHERS IN THE REGION?

 

Our current service contract effectively functions as a public-private partnership. From our perspective, a public-private partnership could aim to stimulate various forms of investment in the development of the oil and gas industry. It could also create favorable conditions for attracting investments and developing the service sector of Turkmenistan's oil industry. Additionally, it could increase the efficiency of the service sector in Turkmenistan’s oil industry, focusing on enhancing oil recovery and energy efficiency, and implementing advanced technologies, management practices, and process optimization.

 

Implementing PPPs will contribute to the development of local businesses, create new jobs, and increase tax revenues, ultimately promoting economic growth and the well-being of the population. When comparing the PPP sector in Turkmenistan to other countries, it is evident that Turkmenistan is actively developing and refining its PPP mechanisms in the oil and gas industry. Compared to some neighboring countries, Turkmenistan has significant resources and potential in the energy sector, which can attract more attention from investors and market participants. With a stable political environment and an economic development strategy, Turkmenistan is a reliable partner for public-private partnerships in the oil industry.

 

TURKMENISTAN’S ENERGY SECTOR IS BECOMING INCREASINGLY ATTRACTIVE TO FOREIGN INVESTORS. HOW CAN THE COUNTRY ACHIEVE ITS FULL POTENTIAL?

 

To fully realize Turkmenistan's energy sector potential and attract more foreign investors, several key recommendations can be made. Investment in infrastructure development, including the construction and modernization of energy facilities, oil and gas complexes, and transportation and port infrastructure, is essential. Additionally, stimulating innovation and technological development through state support for scientific research and the implementation of advanced technologies in production will enhance the efficiency and competitiveness of Turkmenistan's oil, gas, and energy sectors.

 

Investing in human capital development, with a focus on education and professional training for specialists in the energy and mineral resource sectors, will ensure a skilled workforce for the industry. Strengthening international partnerships and developing cooperation with other countries and international organizations in the energy field will facilitate the exchange of experience and technologies and attract new investments. Implementing these measures will help Turkmenistan maximize its energy potential and draw more foreign investors to develop this crucial economic sector.

 

CAN YOU TELL US MORE ABOUT YOUR CSR STRATEGY IN TURKMENISTAN?

 

We place great importance on the well-being and development of our employees. Our policy encompasses training and professional development, ensuring workplace health and safety, and creating conditions that foster both professional and personal growth for each employee. Yug-Neftegaz Private Limited actively participates in various social programs and initiatives aimed at supporting local communities, including financial support for sports and cultural events and infrastructure development projects.

 

Our company is committed to minimizing the environmental impact of all our operations by implementing modern technologies and methods to reduce emissions and efficiently use natural resources. We adhere to high standards of ethical behavior and transparency, strictly complying with national laws and regulations to benefit society and the economy as a whole. Our corporate social responsibility strategy is an integral part of our business, designed to create long-term value for all stakeholders, including employees, local communities, and the environment.