Turkmenistan increases oil production
Ashgabat, Turkmenistan, Oct.14
By Huseyn Hasanov- Trend:
The oil production in Turkmenistan stood at 9.76 million tons in the first nine months of 2015, or almost 600,000 tons more than in the same period of 2014, said the message from the country's Ministry of Oil and Gas Industry and Mineral Resources.
The significant increase (6.5 percent) in the production volume of hydrocarbon feedstock is a result of several factors, said the ministry, adding that large volumes of investments are annually made in the technical re-equipment of the enterprises of the domestic fuel and energy complex, as well as for purchasing equipment, materials and specialized equipment.
This allowed significantly expanding the area of the geological exploration and drilling work, speeding up the industrial development of promising oil and gas areas, implementing a range of large projects in increasing the effectiveness of operation of long-developed fields, according to the message.
In particular, a set of efficient geological and technical measures aimed at improving the impact of productive deposits, improving the mode of operation of wells, including their underground and major repair, transfer of wells to gaslift is purposively implemented in the industry.
The message said that in addition to this, foreign partners of Turkmenistan also increase oil production, which develop a number of deposits on land and offshore Caspian based on production sharing agreement contracts.
In accordance with the "Program of development of oil and gas industry of Turkmenistan until 2030", the country has significantly expanded drilling work, namely, 92,000 meters have been drilled since the beginning of 2015.
Large-scale investment projects within the framework of which the construction of new production facilities is carried out, continues on the largest fields of Turkmenistan. The total volume of investments spent since the beginning of 2015 in the energy sector of Turkmenistan totaled over 6.726 billion manats. This is 42.3 percent more than during the first nine months of 2014.
Edited by CN