Head of Perenco Holdings: The Caspian Sea opens up broad opportunities for cooperation with Turkmenistan
Armel Simondin, CEO of Perenco Holdings, discussed the prospects for cooperation with Turkmenistan, the company’s specialization in mature field development, and his impressions of his first trip to Ashgabat in an interview with Orient.
The interview took place during the XXXI International Conference and Exhibition "Oil and Gas of Turkmenistan — 2026" (OGT 2026), held on October 21–23 in Ashgabat.
Armel Simondin expressed his gratitude to the organizers of the event — the State Concerns "Turkmennebit" and "Turkmengaz" — noting the importance of the conference for fostering business contacts among investors, international companies, and government officials.
"This is a wonderful event that provides an opportunity to meet with investors, company representatives, and government officials. We also held a meeting with representatives of state authorities to assess our bilateral interaction and discuss opportunities for further cooperation," he noted.
According to the head of Perenco Holdings, the company is ready to offer Turkmenistan its specialized expertise in the development of mature and marginal fields. This approach makes it possible to boost production at existing facilities, as well as to develop small fields and previously discovered reserves using specialized technologies.
"We specialize in mature and marginal fields and possess the necessary expertise to increase production at existing assets. Furthermore, we can participate in the development of new discoveries using specialized technologies, particularly in shallow waters," Simondin explained.
He also emphasized the potential of the Caspian Sea for the further development of the oil and gas sector and expressed his view that Turkmenistan offers a stable environment for investors.
Perenco is an international independent oil and gas company specializing in hydrocarbon production and extending the lifespan of mature fields. According to official company data, its operations cover 14 countries across Europe, Africa, Latin America, and Southeast Asia. Perenco focuses heavily on technical solutions that allow for more efficient use of existing resources and sustained production over longer periods.
Armel Simondin has led Perenco since April 2024. Prior to this appointment, he held various engineering and managerial positions in the oil and gas industry, including work at Total and Perenco's subsidiaries in Cameroon.
At the conclusion of the interview, the head of the company shared his impressions of his trip to Turkmenistan, which was his first.
"This is my first time visiting Ashgabat, and I was deeply impressed by the city, the country, and the hospitality of the people. Our team had a wonderful time here. Thank you, Turkmenistan!" he said.
The OGT 2026 International Conference brings together representatives of oil and gas companies, state institutions, and investors to discuss prospects for energy cooperation, industry development, and attracting investment into Turkmenistan's oil and gas sector.
This event was conducted as a practical application of economic diplomacy mechanisms. Such formats serve to strengthen international business ties, stimulate foreign economic activity, and demonstrate opportunities for long-term partnership with international companies.
