Turkmenistan - Country Commercial Guide
Oil & Gas

Sub-sector best prospects: Include the sub-sectors in which U.S. companies would have the best opportunity of exporting.

Last published date: 2022-08-08

Overview 

Turkmenistan is rich in oil and especially natural gas 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 2021 British Petroleum (BP) Statistical Review of World Energy indicates that Turkmenistan, as of the end of 2020, had 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 59.0 bcm of natural gas in 2020; of that, Turkmenistan consumed 31.3 bcm domestically and exported 27.7 bcm to China. Oil production in 2020 reached 216,000 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.  

Oil & Gas: 

Turkmenistan Oil and Gas Market

 

2016 

2017 

20178 

2019  

Total Local Production 

 * 

 * 

 * 

* 

Total Exports 

 

 6.6 

 8.0 

 8.6 

Total Imports 

0 

0 

0 

0 

Imports from the US 

 

0 

0 

0 

0 

Total Market Size 

* 

* 

* 

* 

Exchange Rates 

3.5 

3.5 

3.5 

3.5 

(total market size = (total local production + imports) - exports) 

Units: $ billions 

Source: UN Comtrade data, International Trade Centre statistics 

Leading Sub-Sectors 

Modern geological exploration technologies; seismic imaging software; drilling equipment and pipes; field development equipment; well rehabilitation services; offshore production equipment and services.  

Opportunities 

Exploration and development of oil and natural gas fields, especially Galkynysh (formerly South Yoloten), Osman, Minara, Tagtabazar-I, Caspian Sea offshore blocks, and mainly Dostluq field, and the Central Karakum group of fields. Possible construction of a Trans-Caspian interconnector or pipeline, gas treatment and processing units at the abovementioned fields. Opportunities also exist for gas-to-liquid (GTL) technology providers as Turkmenistan is currently expanding production capacity in this sector. 

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