Eni to Further Development of Turkmenistan Petroleum Industry

Eni CEO, Paolo Scaroni, and the Director of The State Agency for Management and Use of Hydrocarbon Resources, Yagshygeldy Kakayev, signed, in the presence of the President of the Republic of Turkmenistan, Gurbanguly Berdimukhamedov, and the Italian Prime Minister, Silvio Berlusconi, a Memorandum of Understanding to promote and strengthen cooperation in the development of Turkmenistan's petroleum industry.

The agreement follows the meeting between the Turkmen President and Eni's CEO held in Ashgabat on 26th October 2009. Under this agreement, Eni, in co-operation with the above mentioned State Agency and the relevant Turkmen state bodies, will carry out a series of studies aimed at enhancing the country's oil and gas potential, by making available its expertise, its integrated experience and its knowledge in terms of sustainable development. Additionally, Eni is designing an intensive training plan for Turkmen petroleum industry experts.

Eni has been present in Turkmenistan since 2008 when it acquired Burren Energy. Its production in the country in 2008 reached 12,000 bbls/day. With this agreement, Eni intends to strengthen its presence in the country.