Head of Turkmengaz: South Yoloten-Osman field in Turkmenistan to be raw materials base for export pipelines
Turkmenistan, Ashgabat, Oct. 18 /Trend G.Hasanov/
In the future, the unique reserves of the South Yoloten-Osman field, with reserves of 18 trillion cubic meters of gas, will become a resource base not only for domestic gas pipeline East-West, but also for other export pipelines, the chairman of Turkmengaz State Concern Dovlet Mommaev said at an investment forum in Ashgabat.
"Creating a diversified system of gas export to world markets, our country could become one of its largest suppliers. This perspective is justified firstly with the huge reserves of natural gas available on the giant fields, such as South Yoloten Osman and Yashlar, estimated by the Turkmen specialists and confirmed by audit studies of the international expert of Gaffney, Cline & Assciates," he said.
Currently additional capacity is created for the production, preparation and transportation of gas on the fields Garabil-Gurrukbilskoy group, Bagadzha, Zeakli-Dervezinskoy group, etc.
Several foreign companies worldwide have been attracted to create gas production and gas processing facilities calculated for 30 billion cubic meters of gas per year on the South Yoloten Osman field.
"Already today the experts confidently assess natural gas reserves at 18 trillion cubic meters, which makes Turkmenistan one of the largest energy powers of the world," the report said.
Turkmenistan implements a large-scale investment project for integrated development of South Yoloten field. It is implemented by the Turkmengaz State Concern, which has signed four service contracts with companies from China, UAE and South Korea, totaling approximately $10 billion.
As part of this project, over the next few years, numerous operation wells will be drilled, modern factories will be built for desulphurization of gas feedstock and production of high quality gas on a unique gas site. As a result, only in the first stage of South Yoloten field development, the gad production will total 30 billion cubic meters per year.
"Huge investments in developing production capacity of the gas industry in the country are made due to growing demand for high-quality fuel of Turkmenistan on the world market and the need in this regard, increasing the volume of production and export of gas, which ultimately has a positive effect on strengthening the national economy," says the report by head of Turkmengaz.
It is projected that by 2030, the natural gas production in Turkmenistan will be increased to 230 billion cubic meters per year, of which over half will be exported.
Chairman of the State Concern also noted that "being a major gas supplier in Central Asia, Turkmenistan is one of the leading energy countries of the world and is well positioned to increase gas production over the next years."
International Investment Forum, organized by the Chamber of Commerce of Turkmenistan and the British IC ENERGY Limited, was held in Ashgabat on Oct. 18-19, 2010.