Azerbaijan, Baku, Oct. 12 /Trend, G.Hasanov/
Participation of major Western oil companies in the development of Turkmen section of the Caspian is able to accelerate the implementation of Nabucco gas pipeline, with which the European Union links the idea of diversification of the energy market, experts say.
"Another positive signal was sounded for Nabucco," an economist, who asked not to be named, said by telephone commenting on the recent announcement, made by Ashgabat.
The top managers of the fuel and energy sector (FES) of the country stated recently that it is possible that agreements for development and exploration of oil and gas resources in the Turkmen section of the Caspian Sea can be concluded with Chevron (U.S.) and Total (France). Shortly before, the names of other candidates such as U.S. TX Oil and ConocoPhilips were called.
So far, the Western companies in this part of Turkmenistan also included German RWE (shareholder of Nabucco), which not only assumed exploration and commercial development of one of the blocks in the Caspian Sea, but also planned to sign an agreement for the sale of Turkmen gas by the end of 2010.
"The flow of additional huge Western investments into Turkmenistan can inspire optimism of those who puzzle over the question, where to search for the resource base for Nabucco," said the expert.
Experience, capital and advanced technology of these foreign companies will come in handy here. The fact is that the development of the Turkmen sector of the Caspian Sea, where about 30 offshore blocks were presented for the international tender, requires substantial investments because of depths. According to Turkmen estimates, this area concentrates 11 billion tons of oil and 5.5 trillion cubic meters of gas, excluding already contracted blocks.
The specialists of Turkmenneft State Concern claim in their reports that more than 80 percent of hydrocarbon reserves are located offshore in the sediment at a depth of more than 3000 meters, as well as in poorly studied areas of oil and gas, so there is still a high probability of finding new significant oil and gas fields. New perspectives are associated primarily with two major oil and gas basins - Middle Caspian and South Caspian.
Now only Malaysian Petronas, who came to the Turkmen market already in the nineties of the last century, can organize gas production in this part of the Caspian. Today this company after the great and laborious work states it was ready to put on the market 10 billion cubic meters of gas per year, and even double these volumes in the near future.
Western observer, who works in one of the Turkmen projects, said in an interview with Trend that Turkmenistan has previously demonstrated its interest in the Nabucco project, when it decided to build the East-West pipeline on its territory from the eastern fields, in particular from Iolotansk gas field, with reserves of 14-18 trillion cubic meters of gas, up to the shore of the Caspian Sea.
One month before the dismissal of head of Turkmengaz, Turkmen President Gurbanguly Berdimuhamedov criticized him because of weakening of rates of realization of infrastructure projects, including the East-West project and on industrial development project of Iolotani field, which has already attracted funds of nearly $10 billion.