Ashgabat, Turkmenistan, March 30
By Huseyn Hasanov- Trend:
President of Turkmenistan Gurbanguly Berdimuhamedov and head of the Russian company ARETI Igor Makarov discussed possibilities of implementation of new mutually beneficial projects, the Turkmen government said in a message March 30.
During the meeting, Makarov noted high interest of Russian business, in particular his company, in expanding the productive cooperation established with Turkmenistan, which is today one of the world leaders in terms of economic growth.
ARETI is a new project by the Russian businessman Igor Makarov which was created as a result of rebranding of ITERA International Group of Companies.
Main business areas of ARETI are projects in fuel and energy complex, in particular, offshore mining in Turkmenistan (the Caspian Sea), trading, engineering, real-estate development, and investment to the real economy.
Earlier it was reported that the company works on 21 blocks in the Turkmen sector of the Caspian Sea. The corresponding production sharing agreement (PSA) was signed in 2009.
Following the results of 2D/3D seismic data processing, the estimated recoverable reserves of the block are about 800 billion cubic meters of gas and 95.5 million tons of liquid hydrocarbons. The company has estimated the total investment in the project at the level of $6 billion.
Two structures are allocated on the block: Western Erdekli and South Erdekli. The company said that the studies helped to ensure high prospects of the structures for hydrocarbons and attribute them to the category of unique ones.