Chevron Corp. is opening an office in Turkmenistan, following the Turkmen government's invitation last month for the U.S. oil giant to work in the energy-rich Central Asian nation, state-run television reported Friday.
The agreement was reached Thursday at a meeting between President Gurbanguli Berdymukhamedov and Chevron vice president Jay Pryor.
It comes as international competition over access to Turkmenistan's vast oil and gas resources has intensified following the death in December of the country's long-ruling autocrat, Saparmurat Niyazov, who had largely blocked foreign access to the country's energy sector.
State television also reported that senior officials from BP PLC's Russian joint venture met with Berdymukhamedov at the presidential palace, as the company considers opening an office in Ashgabat.
Turkmenistan has the second-biggest gas reserves among all ex-Soviet republics after Russia, and its resources are playing an increasingly important role in regional politics.
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