This is a best prospect industry sector for this country. Includes a market overview and trade data.
There are limited opportunities for U.S. exporters interested in the Turkmen market. The Turkmen government has a reputation for non-payment of its contracts with international firms, in some cases going several million or even billion dollars into arrears. However, opportunities exist in certain areas. Below are the main sectors that historically have attracted foreign companies to Turkmenistan.
Turkmenistan is rich in hydrocarbon resources. According to official figures, Turkmenistan’s resource base is approximately 71.64 billion tons of oil equivalent, including 53 billion tons located in onshore fields and 18.21 billion tons in the Caspian Sea. The BP Statistical Review of World Energy 2020 indicates that Turkmenistan has 600 million barrels of proven oil reserves and 19.5 trillion cubic meters in proven reserves of natural gas. According to the same report, Turkmenistan produced 63.2 bcm of natural gas in 2019; of that, Turkmenistan consumed 31.5 bcm domestically and exported 31.6 bcm to China. Oil production in 2019 reached 264,000 barrels per day. Turkmenistan consumes roughly 60 percent of its oil production domestically and exports the remainder over the Caspian Sea to world markets. The Turkmenbashy Complex of Oil Refineries and the gas-to-gasoline plant in Ahal province produce liquefied petroleum gas (LPG), though no official data on production is available.
Modern geological exploration technologies; seismic imaging software; drilling equipment and pipes; field development equipment; well rehabilitation services; offshore production equipment and services.
Exploration and development of oil and natural gas fields, especially Galkynysh (formerly South Yoloten), Osman, Minara, Tagtabazar-I, Caspian Sea offshore blocks, and the Central Karakum group of fields. Construction of gas treatment and processing units at the above mentioned fields. Opportunities also exist for gas-to-liquid (GTL) technology providers as Turkmenistan is currently expanding production capacity in this sector.