Turkmenistan to intensify work on major gas field

Turkmenistan to intensify work on major gas field

Turkmenistan, Ashgabat, April 14 / Trend, H. Hasanov /

President of Turkmenistan Gurbanguly Berdimuhammadov at an enlarged government meeting instructed the heads of oil and gas industry to intensify work on the major gas field "Galkynysh", the Turkmen government said on Saturday.

"It is necessary to make emphasis on the work carried out on the first stage of industrial development of gas field "Galkynysh". Great attention should be paid to the development of fields of rare minerals and their production," Turkmen leader said.

According to Berdimuhammadov, the relevant work should be carried out on technical re-equipment of the fuel and energy sector, development of the newly discovered oil and gas fields, as well as preparing them for operation.

"Today, demand for them on the world markets is very high. Our country has several such fields, but their development has not yet been arranged at the proper level. This sphere has great potential to attract investments, and certainly those who are willing to invest in this promising sphere will be found. In other words, it is necessary to conduct the necessary work and begin development of fields of rare earth minerals," Berdimuhammadov said.

Earlier it was reported that industrial stream with high pressure was received on the Galkynysh field in Mary region, which ranks second in the world for its natural gas reserves. According to specialists, this well is capable of producing 1 million cubic meters of natural gas per day

According to a British Petroleum (BP) report, Turkmenistan ranks fourth in the world after Russia, Iran and Qatar for its natural gas reserves.

The country's major fields are concentrated in the east of the country, "Southern Yoloten - Osman" (recently merged and renamed as Galkynysh) and Yashlar field with total resources estimated by local geologists and British GCA at 26.2 trillion cubic meters.

Turkmengas State Concern deals with the industrial development of Galkynysh. It signed service contracts worth $9.7 billion with Gulf Oil & Gas Fze, Petrofac International LLC (UAE), CNPC Chuanging Drilling Engineering Company (China) and LG International Cоrp and the Hyudai Engineering consortium (South Korea) in Dec.2009.

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