President of Turkmenistan Gurbanguly Berdimuhamedov and Prime Minister of the Italian Republic Matteo Renzi, who arrived in Turkmenistan on a working visit, held talks in Ashgabat.
In the morning, Prime Minister of the Republic of Italy Matteo Renzi headed to the Cabinet of Ministers building, where the President of Turkmenistan heartily greeted the distinguished guest.
The talks in a narrow format between the President of Turkmenistan and the Prime Minister of Italy took place in the hall of bilateral meetings. The sides exchanged views on a number of topical issues of regional and international politics of mutual interest. The President of Turkmenistan and the Prime Minister of Italy confirmed the willingness of the two countries to further promote constructive cooperation in bi- and multi-lateral formats, including within the Turkmenistan-EU dialogue.
The government delegations of Turkmenistan and the Italian Republic joined the talks in the assembly hall. After the intergovernmental talks had been concluded, the ceremony of signing bilateral documents took place in the presence of the President of Turkmenistan and the Prime Minister of the Italian Republic.
The Agreement on joint activities under the production sharing contract on Nebitdag contract territory (Turkmenistan) between Turkmennebit State Concern and ENI Turkmenistan Limited, the Share Transfer Act under the production sharing contract on Nebitdag contractual territory, the Supplemental Agreement # 1 to the production sharing contract on Nebitdag contractual territory (Turkmenistan) and the Memorandum of Understanding between the State Agency for Hydrocarbon Resources Management and Use under the President of Turkmenistan and ENI S.p.A. to explore the possibilities of exploring and extracting hydrocarbon resources in Turkmenistan were signed.
After the signing ceremony had been concluded, the Turkmen leader and the head of the Italian Government held a press conference.
President Gurbanguly Berdimuhamedov emphasized that Turkmenistan stands ready to cooperate on energy issues with the European Union. The Turkmen leader mentioned cooperation with ENI Turkmenistan Limited that operates on Nebitdag contractual territory as an example of productive partnership. Oil operations are conducted in the oil fields, such as Burun, Balkan, Uzboi and Monjukly. 1,166 specialists have been involved and US$ 1.589 billion have been spent to carry out project activities. 14 million tons have been extracted as of today.
The Turkmen leader noted that four documents had been signed on that day. The first document is the Agreement on joint activities between Turkmennebit State Concern and ENI Turkmenistan Limited that provides the legal framework for their contractual relations on equal terms. The second document is the Act under the production sharing contract on Nebitdag contractual territory according to which ENI Turkmenistan Limited holds 90 per cent and Turkmennebit State Concern holds 10 per cent. The operatorship of the oil blocks rests with ENI Turkmenistan Limited. The third document is the Supplemental Agreement # 1 to the production sharing contract between the State Agency for Hydrocarbon Resources Management and Use under the President of Turkmenistan, Turkmennebit State Concern and ENI Turkmenistan Limited that provides for a 10-year extension of the company’s operations. The document also provides for the construction of a training centre and covers other issues.
The fourth document is the Memorandum of Understanding to explore the opportunities for exploring and extracting hydrocarbon resources in Turkmenistan. It deals with offshore areas in the Turkmen sector of the Caspian Sea – Blocks 19 and 20. Geological reserves of these blocks are estimated at 510 million tons of oil and 630 billion cubic metres of gas.
The Turkmen leader also noted that the agenda of the talks focused on transport issues. Education and science issues were discussed in detail during the bilateral meeting.
The leader of Turkmenistan noted that the Turkmen side had suggested establishing an intergovernmental commission on economic cooperation.
Prime Minister of Italy Matteo Renzi noted that ample opportunities for Turkmen-Italian cooperation that the Embassy of the Italian Republic in Turkmenistan is to build up existed today, focusing on the construction sector, infrastructure projects and tourism as promising vectors of cooperation.
The distinguished guest said that he hoped to meet next year with the President of Turkmenistan, whose visit to Italy would open up new opportunities to promote mutually beneficial partnership.
The President of Turkmenistan gave an official reception in honour of the distinguished guest. After the official reception had concluded, the Turkmen leader and the Prime Minister of Italy cordially bade farewell to each other.
The distinguished guest headed to Ashgabat International Airport and left for Rome.
The visit programme of the spouse of the Prime Minister of the Italian Republic Agnese Landini, who was accompanying him during his working visit to Turkmenistan, included a visit to Nusay State Historical and Cultural Reserve and the National Turkmen Carpet Museum.
The government delegations of Turkmenistan and the Italian Republic joined the talks in the assembly hall. After the intergovernmental talks had been concluded, the ceremony of signing bilateral documents took place in the presence of the President of Turkmenistan and the Prime Minister of the Italian Republic.
The Agreement on joint activities under the production sharing contract on Nebitdag contract territory (Turkmenistan) between Turkmennebit State Concern and ENI Turkmenistan Limited, the Share Transfer Act under the production sharing contract on Nebitdag contractual territory, the Supplemental Agreement # 1 to the production sharing contract on Nebitdag contractual territory (Turkmenistan) and the Memorandum of Understanding between the State Agency for Hydrocarbon Resources Management and Use under the President of Turkmenistan and ENI S.p.A. to explore the possibilities of exploring and extracting hydrocarbon resources in Turkmenistan were signed.
After the signing ceremony had been concluded, the Turkmen leader and the head of the Italian Government held a press conference.
President Gurbanguly Berdimuhamedov emphasized that Turkmenistan stands ready to cooperate on energy issues with the European Union. The Turkmen leader mentioned cooperation with ENI Turkmenistan Limited that operates on Nebitdag contractual territory as an example of productive partnership. Oil operations are conducted in the oil fields, such as Burun, Balkan, Uzboi and Monjukly. 1,166 specialists have been involved and US$ 1.589 billion have been spent to carry out project activities. 14 million tons have been extracted as of today.
The Turkmen leader noted that four documents had been signed on that day. The first document is the Agreement on joint activities between Turkmennebit State Concern and ENI Turkmenistan Limited that provides the legal framework for their contractual relations on equal terms. The second document is the Act under the production sharing contract on Nebitdag contractual territory according to which ENI Turkmenistan Limited holds 90 per cent and Turkmennebit State Concern holds 10 per cent. The operatorship of the oil blocks rests with ENI Turkmenistan Limited. The third document is the Supplemental Agreement # 1 to the production sharing contract between the State Agency for Hydrocarbon Resources Management and Use under the President of Turkmenistan, Turkmennebit State Concern and ENI Turkmenistan Limited that provides for a 10-year extension of the company’s operations. The document also provides for the construction of a training centre and covers other issues.
The fourth document is the Memorandum of Understanding to explore the opportunities for exploring and extracting hydrocarbon resources in Turkmenistan. It deals with offshore areas in the Turkmen sector of the Caspian Sea – Blocks 19 and 20. Geological reserves of these blocks are estimated at 510 million tons of oil and 630 billion cubic metres of gas.
The Turkmen leader also noted that the agenda of the talks focused on transport issues. Education and science issues were discussed in detail during the bilateral meeting.
The leader of Turkmenistan noted that the Turkmen side had suggested establishing an intergovernmental commission on economic cooperation.
Prime Minister of Italy Matteo Renzi noted that ample opportunities for Turkmen-Italian cooperation that the Embassy of the Italian Republic in Turkmenistan is to build up existed today, focusing on the construction sector, infrastructure projects and tourism as promising vectors of cooperation.
The distinguished guest said that he hoped to meet next year with the President of Turkmenistan, whose visit to Italy would open up new opportunities to promote mutually beneficial partnership.
The President of Turkmenistan gave an official reception in honour of the distinguished guest. After the official reception had concluded, the Turkmen leader and the Prime Minister of Italy cordially bade farewell to each other.
The distinguished guest headed to Ashgabat International Airport and left for Rome.
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The visit programme of the spouse of the Prime Minister of the Italian Republic Agnese Landini, who was accompanying him during his working visit to Turkmenistan, included a visit to Nusay State Historical and Cultural Reserve and the National Turkmen Carpet Museum.