German RWE to explore Turkmen sector of Caspian Sea during six years

Turkmenistan, Ashgabat, July 17 / Trend G. Hasanov /

RWE German Company, one of the biggest European energy companies, got license for exploration of oil and gas at contractual territory of offshore bloc N23 in Turkmen sector of the Caspian Sea during 6 years, national TV channel Altin Asir said.  

German company got license for exploring operations at contractual territory of offshore block N23 for 6 years upon the agreement. Operator will get license for industrial extraction for 25 years in case of revealing of hydrocarbon reserves. Geologists said that significant hydrocarbon resources, especially, natural gas, forecasted on this prospective block. Their concerete volumes will be specified as a result of realization of exploration operations program, including seismic research and drilling of wells.   

The contract was signed with participation of the Turkmen president Gurbanguly Berdymukhamedov and chairman of RWE AG board Jurgen Grossman in Turkmenbashi near the Caspian Sea. 

The State Agency for the Management and Use of Hydrocarbons Resources at the President of Turkmenistan signed the production sharing agreement.

Berdymukhamedov said that reliable business relations with leading German companies are one of priority of foreign political strategy of Turkmenistan. He stressed that it is stipulated by huge scientific and industrial potential of these companies and responsible attitude towards partner obligations. 

"We highly appreciate experience of cooperation with our friends from Germany and intedn to rich it with new projects, including participation of RWE AG," he said.

The memorandum on long-term cooperation was signed between the Turkmen government and joint stock society RWE in Ashgabat in April 2009. The memorandum envisages interaction in energy on a variety of trends. One of aspects of partnership is participation of RWE in project on exploration and production of hydrocarbon from shelf of Turkmen sector of the Caspian Sea.

The sides stressed that Turkmen energy policy envisages new approaches towards cooperation in diversification of development of national oil and gas complex and guarantees of Turkmen energy resources supplies on world markets.

Grossman stressed importance of Turkmen initiative supported by UN members-countries. This initiative was indicated in official document - resolution Reliable and stabile transit of energy resources and its role in stabile development and international cooperation.

Turkmenistan demonstrates adherence to diversification of its energy resources on world markets by expanding geography of export routes at different trends of Eurasian continent, Turkmen Dovlet Haberleri state news agency said. So, Turkmen fuel will pump in eastern direction via Turkmenistan-China pipeline together with traditional routes of natural gas supplies from late 2009.  

Agreements on significant increase of gas supplies to Iran were reached these days. New variants of gas export to Europe are being considered as other prospective routes. European countries regard Turkmenistan as reliable and solid partner playing important role in world community.  

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