Buried Hill Energy, Turkmenistan mull joint development of Caspian hydrocarbons

By  Trend

Turkmen President Gurbanguly Berdimuhamedov received CEO of Buried Hill Energy Peter Kallos, the Turkmenistan State News Agency reported.

The sides discussed the results of joint work and prospects for cooperation, including in the field of exploration and development of oil and gas fields in the Turkmen sector of the Caspian Sea.

In this context, the parties noted significance of the Convention on the Legal Status of the Caspian Sea signed in August this year, which opened up new opportunities for enhancing mutually beneficial cooperation of coastal states with the world business community.

The dynamic pace of economic development of Turkmenistan, a member of a number of world energy powers with enormous reserves of oil and gas, as well as favorable investment climate - all this creates prerequisites for the efficient operation of foreign companies and the implementation of major joint projects in various fields for the benefit of the two countries, Kallos said.