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Turkmenneft increases oil and gas extraction

Oil&Gas Materials 17 December 2010 14:53 (UTC +04:00)

Turkmenistan, Ashgabat, Dec. 17, Trend H. Hasanov /

Since January to November 2010 Turkmen State Concern Turkmenneft extracted 4 million 940,900 tons of oil and 9 billion 391.2 million cubic meters of gas, which is more than the  corresponding period last year, the company said today.

Turkmenistan in recent years produced about ten million tons of oil. The foreign companies producing oil in Turkmenistan under the PSA include Burren Energy (Eni branch), Mitro, Dragon Oil, Petronas and others.

By 2030, production volumes are forecasted at 67 million tons. This calculation is associated mostly with the active development of the Turkmen part of the Caspian Sea by foreign companies. Talks are underway with countries from Europe, the United States and the Persian Gulf.

Oil processing takes place inside the country at two plants in the cities of Turkmenbashi and Seydi. At the same time, natural gas extracted by Turkmenneft is transported to Iran via the western pipeline from the "Korpeje" field to the Iranian village Kurt-Kui.

One of the tasks of the State Concern in 2010 is the active development and exploration of deposits. Exploratory operations are underway in oil and gas producing areas, as the geography of work expands. And first these are prospective oil and gas areas "Mydar" and "Yilakly" found in the Central Karakum.

Using the advanced international experience plays a great role in increasing the volume of extracted hydrocarbons. Active cooperation in this direction is underway with companies from Azerbaijan, China, Russia and Japan.

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