Russian Itera to expand its activity in Turkmen market
Ashgabat, Turkmenistan, March 28
By Huseyn Hasanov- Trend:
Turkmen President Gurbanguly Berdimuhamedov received the head of Russian company Itera, Igor Makarov, who confirmed the company's intention to significantly expand its activity in the Turkmen market.
"Makarov highlighted the exceptionally great interest of Itera in the comprehensive development of partnership with Turkmenistan and reaffirmed the company's intention to significantly expand its activity in the Turkmen market. The company head assured that Itera will continue to approach the implementation of partnership commitments in the most serious and responsible way," the message from the Turkmenistan government said.
Itera has established itself in Turkmenistan as a reliable partner and significant cooperation experience has been acquired from it, Berdimuhamedov said.
Large investment projects under implementation in Turkmenistan, areas of cooperation for the near future were discussed at the meeting and there was expressed readiness to continue the cooperation in gas sphere, the message from Turkmenistan government said.
Itera implements project on production of hydrocarbons in offshore block 21 in the Turkmen sector of the Caspian Sea. The estimated recoverable reserves of the block is about 800 billion cubic meters of natural gas and 95 5 million tons of liquid hydrocarbons, according to 2D/3D seismic data processing results obtained after the exploration work in 2012-2013.
The company plans to begin the drilling of the first exploration well on the shelf in 2014. The sea depth in the area is seven meters and estimated depth of drilling is up to seven kilometers. The total investment in the project is estimated at $6 billion by the company.
Translated by L.Z.
Edited by C.N.