This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 10/31/2017

This is a best prospect industry sector for this country. Includes a market overview and trade data.


Turkmenistan is rich in oil and especially 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 Government of Turkmenistan announced at May’s Turkmenistan Gas Conference it s reserves were 50.4 trillion cubic meters (tcm). International estimates, however, vary. The 2016 British Petroleum (BP) Statistical Review of World Energy indicated that Turkmenistan, as of the end of 2015, had 100 million tons of proven oil reserves and 17.5 tcm of gas. According to the same report Turkmenistan, with a local annual consumption of 34.3 bcm of gas, produced 72.4 bcm of natural gas in 2015 and exported 27.7, 2.8, and 7.2 bcm to China, Russia and Iran respectively. As of 30 November 2016, the China National Petroleum Corporation (CNPC) reported that the accumulated volume of natural gas exported from Turkmenistan to China reached 152.9 bcm (over 121 bcm as of November 2015) inlcuding 100.5 bcm produced by TurkmenGas and 52.4 bcm produced in Bagtyyarlyk Contractual Area, thus importing 31.9 bcm in total from November 2015 to November 2016. The State Committee of Statistics of Turkmenistan reported a total production of 71.9bcm in 2015. In 2011, the British firm Gaffney, Cline, & Associates conducted an audit of the country’s Galkynysh (formerly South Yoloten) gas field and concluded that it holds between 13.1 tcm and 21.2 tcm of natural gas, making it the second-largest natural gas field in the world. According to Turkmenistan’s State Statistics Committee, Turkmenistan produced about 12.2 billion tons of oil, including gas condensate, in 2015. According to official figures, the Turkmenbashy Complex of Oil Refineries produced 270 thousand tons of liquefied petroleum gas (LPG) in 2014 with no official data released for 2015 and 2016.
Oil & Gas:
 201420152016 (Estimated)2017 (Estimated)
Total Local Production76.2[1]71.974*
Total Exports4137.740 
Total Imports000 
Imports from the US
Total Market Size35.234.234*
Exchange Rates2.83.53.5*
(total market size = (total local production + imports) - exports)
* No statistics or estimates available.

[1] Information in this table is based on 2016 Statistical Yearbook of Turkmenistan, BP Statistical Review of World Energy 2016 and publicly available statements of oil & gas sector officials.

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.


Exploration and development of oil and natural gas fields, especially Galkynysh (formerly South Yoloten), Osman, Minara, Tagtabazar-I, offshore blocks, and the Central Karakum group of fields. Construction of gas treatment and processing units at the abovementioned fields. Opportunities also exist for gas-to-liquid (GTL) technology providers as Turkmenistan is currently building two GTL plants.

Web Resources


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Turkmenistan Energy Trade Development and Promotion