President of Turkmenistan receives Marathon Oil Corporation top managers

Thanking Gurbanguly Berdimuhamedov for the opportunity of a personal meeting the businessmen congratulated the President of Turkmenistan on the brilliant address the UN General Assembly, which had presented Turkmenistan’s important initiatives to strengthen global peace and security, foster constructive international cooperation and spotlighted the strategic issues of development of Turkmenistan and the Central Asian region.

Expressing overall support for the UN Resolution on reliable and stable transit of energy the guests focused on the topicality of Gurbanguly Berdimuhamedov’s initiative to establish the working group under the aegis of the United Nations, which would work out the international legal norms regulating energy relations. The American businessmen noted that these initiatives would ensure reliability and safety of energy transit that, undoubtedly, would contribute to successfully implementing the projects to further extend pipeline infrastructure from the Central Asian region to world markets.

Thanking the guests Gurbanguly Berdimuhamedov briefed them on the major priorities of Turkmenistan’s new energy strategy aimed at technology modernization of oil and gas industry and diversification of Turkmen energy exports. In this regard the Turkmen leader emphasized that Turkmenistan was always ready for mutually advantageous cooperation on an equal basis with all partners including the American companies, which were willing to establish full-scale fuel and energy cooperation.

Noting that Turkmenistan was interested in attracting advanced high technologies Gurbanguly Berdimuhamedov invited Marathon Oil Corporation to collaborate in the investment projects on geological prospecting, oil and gas processing industries, development of hydrocarbon deposits in the Turkmen sector of the Caspian Sea and building development of export infrastructure to transit energy to international markets.

In turn, highly appreciating the profound potential of the market of Turkmenistan as the country with the abundant hydrocarbon reserves and favourable investment climate the company top managers informed of keen interest in establishing long-term oil and gas cooperation. In the near future the company would work out and submit the concrete proposals on collaboration in the investment projects in Turkmenistan to the Turkmen leader for consideration during their planned visit to Ashgabat.