6 Economy
6.1 Industry and commerce

Balkan is an industrial developed region of Turkmenistan. Here oil and gas research, oil-refinery, chemical industries are in action. There are number of hydro-carbonic stores in Balkan velayat. Nowadays except Turkmen government oil and gas companies and enterprises such a big foreign companies as Mobile (USA), “Monument” (UK), “Petronas” (Malaysia), companies from France, Germany, Japan, China is functioning here. Karabogaz gulf is a unique big store of mineral raw material.
Scientists have accounted and proved that Karabogaz gulf has more than 48 milliard tones of sodium, magnum, potassium and brome salt but about third part of them are in brines, others in crystalline and accumulations. Today main object of output is Glauber’s salt (sodium sulfate), mirabilit.

6.2 Energy use and production

Having a rich geological and industrial potential and possessing various natural resources, the Balkan Velayat is one of the most prospective regions of the country. Since 1960s new fields of hydrocarbon raw materials, Ekerem and Kamyshlyja, broadened greatly the geography of oil and gas extraction in the Balkan Velayat. It came after gaining independence when, in accordance with the oil and gas strategy, the Turkmennebit State Concern began realisation of a large-scale programme for strengthening the raw materials basis of the national fuel and energy complex at the expense of putting new prospective fields into operation.
The Turkmennebit State Concern steadily increases hydrocarbon production. In January-February 2007, over 1.116 million tonnes of oil was extracted at the oil fields in western Turkmenistan. In the period, over 1.3 million tonnes of oil that is 100,000 tonnes more compared to the same period of 2006 was supplied to consumers. The Turkmennebit State Concern supplied 957,500 tonnes of “black gold”, that is 110,000 tonnes more compared to the same period of 2006, to the leading enterprises of Turkmenistan’s oil industry – the Turkmenbashi complex of oil refineries
A new oil-gathering station built by the company Dragon Oil (Turkmenistan) Ltd carrying out development of the off-shore fields in Turkmenistan in the Cheleken contractual territory is being prepared for putting into operation at the Caspian Sea shore. The capacity of the complex intended for preparing tank oil, storing, transporting and shipping raw materials is 50,000 barrels (6,666 tonnes).
The oil and gas complex of the south-western region is to play a significant role in the new energy strategy of Turkmenistan worked out with consideration of the tasks set for the economy in the third millennium. As President Gurbanguly Berdymuhammedov said during his visit to the Esenguly Etrap, the amounts of geological prospecting work, geophysical investigation, deep prospecting drilling whose efficiency will be provided by advanced technologies and up-to-date equipment, would be greatly increased. In accordance with the Strategy of development of the oil and gas industry of Turkmenistan until 2030, prospecting work and additional exploration aimed at discovering new oil- and gas-bearing strata will be carried out in Akpatlavuk, Chekishler, Shatut, Nebitlije and other deposits and prospective fields.

6.3 State taxes


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