American Chevron presents package of proposals to Turkmenistan on fuel & energy complex
Turkmenistan, Ashgabat, Sept. 26 / Trend , H.Hasanov/
The head of Chevro, Jay Pryor has informed Turkmen President, Gurbanguly Berdimuhamedov about the company's plans at a meeting in New York (USA), where the head of Turkmenistan takes part in the Turkmen-American business forum.
The company has already opened an office in Ashgabat.
The Turkmenistan-4 national TV channel reported Pryor said that his company is interested in establishing long-term cooperation with Turkmenistan and is ready to actively participate in investment projects of oil and gas sector.
In turn, Berdimuhamedov emphasized his interest in using the experience of Chevron in the development of fields in the Turkmen sector of the Caspian Sea, in the refining industry, in the training of national personnel for the industry.
"Turkmenistan is open for mutually beneficial cooperation on an equal base, ready to establish an active dialogue with all interested partners, including American companies, expressing willingness to establish full cooperation with Turkmenistan in the energy sector on the basis of current legislation and regulations," Berdimuhamedov said.
Turkmenistan, along with the other Caspian littoral states, has set itself the ambitious plans to develop the Caspian shelf and the development of the oil industry relates primarily to marine areas.
Turkmenistan annually extracts 10 million tons per year. Acceleration of oil production volumes is connected with developing of the Caspian Sea. Roughly 32 licensed blocks were presented for the international tender in the Caspian Sea. Negotiating process includes U.S Chevron, ConocoPhilips, Marathon, Midland Oil & Gas, British British Petroleum, German RWE, Austrian OMV, Norwegian Statoil Hydro, French Total, Russian ITERA, LUKOIL and several companies from Far East and Persian Gulf.
According to U.S geophysical Western Geco Company, reserves of Turkmen sector of the Caspian Sea hit 11 billion tons of oil and 5.5 trillion cubic meters of gas without taking into account contracted blocks. Turkmen sources said that it is more than half of oil resources and ¼ of gas within all country.