Turkish TRAO intends to increase output by 2013
Azerbaijan, Baku, April 23 / Trend /
Turkish state company TRAO intends to increase oil and gas production by 2013, Energy Intelligence Group reported.
The company seeks opportunities to conduct extraction in the Black Sea, Turkmenistan, Iraq and Iran, TRAO president and executive director Mehmet Uysal said in his interview with Nefte Compass edition.
TRAO intends to establish a new office in Ashgabat, as well as create joint enterprise upon Kazakh model, Uysal said.
Many companies are careful towards offshore blocks of Turkmenistan because of boundary disputes with Iran and Azerbaijan, as well as deep depth of fields, he said.
Great part of TRAO output - 35,000 barrel of oil equivalent per day fell on Azerbaijani fields Shah-Deniz and block of fields Azeri-Chirag-Guneshli. BP is operator in this block of fields.
TRAO partners on exploration in the Black Sea are Brazil Petrobras and U.S Exxon Mobil. Their reserves are estimated in the amount of 10 million barrel of oil and 1.5 trillion cubic meters of gas. It is planed to launch deep water drilling in 2010 and 2011, Uysal said. The first extracting will be launched in 2017-2018 in case of discovery of fields.
Total volume of oil and gas production of TRAO hits 80,000 barrel of oil equivalent per day. The company intends to meet the country's demand for 600,000 barrel per day, he said.
"We need gas from all our neighbors, including Russia, Iran, Azerbaijan, Turkmenistan and Iraq," Uysal said.
The company's head hoped that Iran will reintegrate in the international community soon. Iranian gas will be supplied to Europe via Turkey when reintegration happens.
TRAO hopes to be the first foreign company in Iraq by establishing an office in Baghdad. Ceremony of this office establishment is expected to be held during a month, Uysal said.Do you have any feedback? Contact our journalist at [email protected]