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.