Turkmenneft intensifies Caspian Sea deposit development

Business Materials 25 June 2012 18:23 (UTC +04:00)

Turkmenistan, Ashgabat, June 25 / Trend H. Hasanov /

More than 3,000 meters have been dug above the plan in the northern Caspian part of oil and gas field Goturdepe for five months 2012. This is significantly more compared to the same period of last year, the Ministry of Petroleum and Mineral Resources said today.
Northern Goturdepe is located on the Caspian Sea shallows.

The exploration work was carried out here six years ago. These operations confirmed the presence of rich oil and gas deposits. Afterwards, the industrial development of this promising field was launched.

According to the information, introducing a multilateral technology allows drilling several wells from a single point and using horizontal drilling methods, the most advanced drilling equipment and technologies of manufacturers, scientific, engineering and technical developments. All this gives positive results in the shelf development.

Thus, commercial flow of oil was obtained within 4,192-4,216 meters while drilling another well without reaching the design depth.

According to the experts, the daily production rate of a new well is about 400 tons of oil. This gives us great hope for its prospects.

At present, three wells are being drilled in Goturdepe rapidly.
The site of the deposit was developed earlier in the 1990s of last century, but the work in this direction was suspended due to the intense increase in the level of the Caspian Sea and flooding in the area adjacent to the bay.

Oil production amounted to 216,000 barrels per day in Turkmenistan in 2011, BP annual review said. Turkmenistan's share in the global oil production last year was 0.3 percent.

According to BP, oil consumption in the country increased by 3.9 percent to 108,000 barrels per day in 2011.

BP left the estimates of proven oil reserves in Turkmenistan in 2011 unchanged - at 0.1 billion tons (0.6 billion barrels), as in the previous year.