American Chevron ready to take part in construction of gas-transport communications in Turkmenistan
Turkmenistan, Ashgabat, Nov. 6 / Trend H. Hasanov /
American Chevron is ready to use its potential and experience in Turkmenistan in the construction of gas-transport communications, exploration and production of hydrocarbons, their processing, development of fields, including in offshore area, the Turkmen government said today.
This intention was voiced by American Chevron Company's Vice-president Jay Pryor at the meeting with the Turkmen President Gurbanguly Berdimuhammadov.
"Turkmenistan is open for establishing full interaction based on mutual benefit with all partners, including leading American companies," the Turkmen President said.
According to Berdimuhammadov, the country implements a comprehensive strategy to modernize the national fuel and energy complex, and diversifying the routes of its energy resources' entry into the world markets.
According to the report, the sides exchanged views on a number of geopolitical issues, and discussed cooperation prospects, in particular the possible involvement of corporations in joint investment projects in oil and gas sphere.
Some 32 licensed blocks were exhibited at the international tender in the Caspian Sea. The negotiation process, in addition to Chevron, includes the U.S. ConocoPhilips, Marathon, Midland Oil & Gas, British British Petroleum, Austrian OMV, the Norwegian Statoil Hydro, French Total, Russia's Lukoil and several companies from the Far East and the Persian Gulf.
According to assessments of American geophysical company Western Geco, reserves in the Turkmen sector of the Caspian shelf amounts to 11 billion tons of oil and 5.5 trillion cubic meters of gas, excluding already contracted blocks. According to Turkmen sources, it is more than half of oil reserves and about one quarter of the gas of all the country.
Berdimuhammadov said that "Turkmenistan is aimed at an active dialogue with foreign partners on equitable mutual benefit".
As an example, he called the field "Southern Yoloten-Osman", which possesses vast reserves of natural gas. According to recent estimates of the Turkmen geologists, the reserves are estimated at 21 trillion cubic meters of gas.