Turkmenistan approves resolution on investment projects

President Saparmurad Niyazov of Turkmenistan has approved a resolution on investment projects worth a total of more than $ 400 mm to drill three exploratory wells in the Yashyl-Tepe area and undertake prospecting for and the development of the Nebitlidje, Western Nebitlidje, Shatut and Gerchek structures and the commercial development of the Southern Kamyshlydja deposit in 2001.
More than $ 20 mm will be invested in the development of the Southern Kamyshlydja deposit in 2000. Total investment in the deposit is expected to top $ 86 mm by 2006. Prospecting operations are expected to be completed by 2009 and boost the local aggregate commercial oil reserves by about 30 mm tons.