Turkmen law on 'Hydrocarbon Resources' amended
Turkmenistan , Ashgabat, Aug. 5 / Trend H. Hasanov /
The draft law "Amending the Turkmen law on Hydrocarbon Resources" was reviewed and approved at a Turkmen parliament meeting in Ashgabat.
The report said that this law is aimed toward the country's rational implementation and preservation of natural resources for future generations.
South Yoloten-Osman, in the east of Turkmenistan, is the second largest gas field in the world, regional manager of Gaffney, Cline & Associates (GCA) Peter Holding said in late May during an international gas congress in the Caspian Avaza.
Holding said that the confirming figures will soon be announced.
In 2008 the company conducted an audit, assessing the approximate deposit reserves as 14 trillion cubic meters of gas - placing fourth in the world.
After comprehensive operations, Turkmengeology increased the expected reserves of Yoloten to 21 trillion cubic meters of gas in late October 2010.
More than a thousand prospective oil and gas structures have been discovered both onshore and offshore.
More than 150 deposits have been opened with only 50 of them under development.
The long-term agreements on gas cooperation were signed with Russia, China, and Iran. The memorandum on cooperation was signed with the EU in the energy sector.
The gas pipeline from Turkmenistan to China has already been built in accordance with interstate agreements.
The Caspian main line project is under consideration. The Central Asia-Center gas transportation system has been reconstructed.
Operations are implementing projects such as the Trans-Afghan and the Trans-Caspian gas pipelines.