07-05-02 The government of resource-rich Turkmenistan hopes to boost oil output this year by 60 % and natural gas production by 40 % compared to last year, according to an ambitious new economic program. The plan foresees production of 13.5 mm tons of crude oil in 2002, or 270,370 bpd.
The Central Asian nation on the Caspian Sea plans to export 2.7 mm tons of oil in 2002, up from 2.2 mm tons in 2001, or 5,407 bpd up from 4,406 bpd last year. To boost output, the country plans to drill new wells and introduce new technologies such as horizontal and diagonal drilling, a government spokesman said.

The production of natural gas is forecast to reach 70.8 bn cm (2.47 tcf) in 2002, up 40 % on the year. Gas exports are expected to reach 56.5 bn cm (1.98 tcf) in 2002 compared to 37.3 bn cm (1.3 tcf) in 2001. Most of the exports will continue to go to Ukraine, Russia and Iran.
Despite Turkmenistan's gas and oil riches, the government has failed to bring prosperity to the ex-Soviet republic's largely impoverished populace.