Washington, Ashgabat to discuss energy cooperation aspects
Turkmenistan, Ashgabat, Aug.17 / Trend, H.Hasanov /
The U.S. delegation, headed by the Director of the U.S. Department of Energy Regional Office Riaz Awan holds talks on cooperation in the energy sector in Ashgabat, an official Turkmen source said.
A number of meetings was held at the Ministry of Oil and Gas Industry and Mineral Resources, the State Agency for Hydrocarbon Resources Management and Use under the President of Turkmenistan and the State Concerns Turkmengas and Turkmennebit
Based on the outcomes of the meeting emphasis was put on mutual interest of the oil and gas business communities of the two friendly countries in intensifying cooperation and widely applying the expertise and technologies of U.S. leading companies to implement investment projects in Turkmenistan in the spheres of geological prospecting, hydrocarbon processing, exploration of offshore oil and gas deposits in the Turkmen sector of the Caspian Sea and development of transport infrastructure to transit Turkmen energy to world markets.
Ashgabat studies proposals for development offshore blocks № 9, № 20 in the Caspian Sea, which are received from companies Chevron, TX Oil and ConocoPhilips. The talks are also underway with ExxonMobil, SouthOil, Midland Oil & Gas, Marathon and others.
According to the U.S Western Geco Geophysical Company, reserves of the Turkmen sector of the Caspian shelf hit 11 billion tons of oil and 5.5 trillion cubic meters of gas, excluding already contracted blocks. Turkmen sources said that it is more than half of oil reserves and about one quarter of the gas within the country.
Chevron representatives stated that the company hopes to become a long-term partner of Turkmenistan in the project for the production of natural gas. The company is ready to invest multibillion-dollar capital required for the safe, efficient and environmentally clean development and production of hydrocarbons.