Itera sells 150 billion cubic meters of Turkmen gas at CIS countries market
Turkmenistan, Ashgabat, Apr.15 / Trend H. Hasanov /
Interaction with the Turkmen partners developed since 1994, and becoming a successful gas company was one of the most important factors for "Itera", Gennady Skidanov, First Deputy Chairman of the Management Board ITERA said in Ashgabat at the First International Gas Congress.
Within the partnership Itera sold 150 billion cubic meters of Turkmen gas to consumers in the CIS countries. Cash payments, product supply and the company's services in the payment of purchased gas exceeded five billion dollars
Skidanov drew attention to the fact that the largest project in Turkmenistan is related with the development of Block 21 of the Turkmen bottom of the Caspian Sea. Itera and State Agency for Hydrocarbon Resources signed a PSA in September 2009.
According to preliminary assessments, licensed block has recoverable reserves of oil - more than 200 million tons, associated gas- about 100 billion cubic meters.
In the next few years, Itera will hold 2D seismic research in the amount of 1200 line kilometers and 3D in the amount of 100 square kilometers.
The amount of investments in geological exploration will be nearly $300 million. The total cost of construction and development of hydrocarbon fields are estimated at $ 5-6 billion.
Within development of hydrocarbon reserves of Block 21 in Turkmenistan about 2,500 job places will be created, Skidanov said.