Media outlets: Turkmenistan accelerates developing major gas field
Turkmenistan, Ashgabat, April 27 / Trend, H.Hasanov /
By late 2012, operational wells will be drilled on Turkmenistan's major gas field South Yoloten-Osman and major plants will be built on natural gas sulphur-refinement, the Turkmen newspaper Neutral Turkmenistan reported.
Complex geological prospecting and drilling work conducted by Turkmen geologists on the field increased the assessment of its reserves to more than 21 trillion cubic meters.
It is planned to extract and produce about 30 billion treated gas every year at the first stage of commercial operation on the field.
The newspaper also writes that Turkmenistan attracts new investments to rapid development.
"Turkmenistan plans to attract $4.1 billion more to rapid industrial development of the major gas field," the newspaper reported.
The state news service reported that two documents have been signed in Ashgabat in this regard. They are a loan agreement between Turkmengas and the State Development Bank of China, as well as an agreement on multilateral cooperation between Turkmengas, the Chinese Petrochina and the State Development Bank of China, envisaging the guarantee on returning loan funds at the expense of Turkmen natural gas supplies to China.
This is already the second target preferential loan allocated by China to develop this field. In 2009, a loan agreement worth $4 billion was signed.
Turkmengas is engaged in industrial development of the field. The concern signed service contract with Gulf Oil&Gas Fze, Petrofac International LLC (UAE), CNPC Chuanging Drilling Engineering Company (КНР) and Consortium of LG Internatinal Cоrp and Hyudai Engineering (South Korea) worth $9.7 billion in December 2009.