Turkmenistan's president Gurbanuly Berdimuhamedov has confirmed that a branch of the Gubkin Russian State University of Oil and Gas will open in Ashgabat at the start of the next academic year.

Mr Berdimuhamedov made the announcement after meeting with his Russian counterpart Dmitriy Medvedev in a summit held between the two nations in the capital aimed at improving relations and furthering both economies.

The new educational facility, which will open on September 1st, will provide training for Turkmen students in all areas of the oil and gas industry, both in the classroom and on-site.

According to Mr Medvedev, the move will boost the national industries of both countries, allowing for the development of domestic workers and reducing the reliance on foreign specialists.

At the same time, the summit saw the two presidents agree to a memorandum of understanding, with greater cooperation between the countries in the areas of education, international relations and humanitarian issues.

"We have achieved a major progress in this area," Mr Medvedev said of the latter.

Also this week, Turkmenistan proposed that a consortium of firms from South Korea explore three areas of the Caspian Sea for new oil resources.