Turkmenistan, Ashkhabad, Sept. 26 /Trend H. Gasanov/
Turkmen president Gurbanguli Berdimuhamedow met with the head of the Buried Hill Energy board of directors Roger Haines and general executive director of the company Peter Kallos, Turkmen government reported on Wednesday.
The company presented a proposal package regarding the development of promising hydrocarbon fields in the Turkmen sector of the Caspian Sea and training of national personnel for this field.
Approving the new proposals of the company which has shown itself as a safe and necessary partner, the head of state stressed the importance of planned work and particularly noted the necessity of active involvement of new ecologically safe technologies, the report says. The Turkmen leader has made a number of orders.
The leaders of Buried Hill Energy promised to do their best to fulfill the orders as soon as possible.
The head of the state stressed Turkmenistan's readiness for international cooperation and for involvement of world experience and innovation technologies, the government report says.
"The increasing interest of foreign business to conduct long term partnership ties based on mutual interests is due to Turkmenistan's status as a major energy power, owning colossal oil and gas reserves," Berdimuhamedow noted.
Extraction and processing of hydrocarbons, implementation of know-how in production and the launch of an advanced pipeline system with exports were noted as the general directions of cooperation.
The report also quoted Haines as saying, that Turkmenistan's position positively affects the forming of multifactor pipeline systems and the signing of beneficial contracts and agreements between suppliers and consumers of energy resources.
Official Ashkhabad welcomes major companies to participate in the development of hydrocarbon resources in the Turkmen part of the Caspian Sea. AS much as 11 billion tons of oil and 5.5 trillion cubic meters of gas are estimated to remain in Turkmen part of Caspian Sea
The Turkmen party considers the signing of agreements on production distribution through direct negotiations on the development of capital cost Caspian Sea as being a priority.
Turkmen specialists claim that more than 80 per cent of offshore hydrocarbon reserves are in sediments located at a depth of over 3000 metres, as well as in poorly studied areas of oil and gas accumulation. So there is a high possibility of discovering new and considerable oil and gas fields. New prospects are linked with two major oil and gas pools, Middle-Caspian and South Caspian.
Buried Hill Energy signed a contract regarding work on Block 3 with Turkmenistan in 2007 and 3000 kilometres of 2D seismic research work have been conducted as of the beginning of this year. The current operations are linked with the analyses of seismic data and development of the drilling strategy.