ASHGABAT, Turkmenistan, October 22. French
independent oil and gas company Perenco is ready to help increase
hydrocarbon production in Turkmenistan by applying enhanced oil
recovery technologies at mature fields and developing small
reserves, Perenco Holdings CEO Armel Simondin said on Thursday at
the 31st International Conference and Exhibition “Oil and Gas of
Turkmenistan” (OGT 2026) in Ashgabat, Trend's special correspondent reports.
According to him, over the past three decades, Perenco has built
up specialized expertise in developing mature fields and small
reserves, which require specific technical solutions and
substantial investment.
“I am confident that we can help increase national production
through our specialized expertise,” Simondin said.
He emphasized that contractual arrangements in the oil and gas
sector should provide opportunities not only for exploration and
the development of new fields but also for producing from mature
assets and developing smaller reserves.
According to Simondin, as fields enter the later stages of their
production life, reservoir pressure declines, water inflow
increases and equipment gradually wears out. This requires
substantial investment to maintain and stabilize production.
Simondin welcomed recent steps by the Turkmen government to
develop contractual arrangements, saying they create favorable
conditions for implementing such projects.
Speaking about production enhancement technologies, the Perenco
chief explained that the company seeks to maximize the potential of
existing wells. Its methods include artificial lift systems and
specialized well intervention and workover operations.
“When working with mature fields, our priority is to invest in
increasing or maximizing production from the existing well stock,”
he said.
Simondin also outlined the scale of Perenco's operations.
According to him, the company produces around 500,000 barrels of
oil equivalent per day across 12 countries. Oil accounts for
approximately 65% of its output, while gas makes up the remaining
35%. The company's annual investment amounts to around $2
billion.
Perenco is an independent, family-owned oil and gas group
founded by French entrepreneur Hubert Perrodo. The company
specializes in the exploration, production and development of
hydrocarbon resources, with a particular focus on mature fields and
smaller reserves that require specialized technologies and tailored
technical solutions.
According to the company, Perenco's gross production in 2025
averaged around 483,000 barrels of oil equivalent per day, while
net production stood at approximately 324,000 barrels per day. The
group operates in 14 countries and employs more than 9,300 people.
It also develops infrastructure for hydrocarbon transportation and
processing, including oil terminals and gas facilities.
Meanwhile, the second day of the 31st International Conference
and Exhibition “Oil and Gas of Turkmenistan” (OGT 2026) has begun
in Ashgabat. As part of the event, a session is being held on the
topic “Investment and development opportunities in the Turkmen
sector of the Caspian Sea.” Discussions are focusing on investment
opportunities for developing the Turkmen sector, prospects for
offshore exploration and production of hydrocarbons, and the
development of international partnerships.
The agenda also includes existing and new production-sharing
agreements (PSAs), as well as modern seismic survey programs
designed to help assess resource potential and prepare promising
blocks for development.
