Turkmenistan, Ashgabat, Nov 15 /Trend H. Hasanov/
The total cost of the project to develop oil and gas resources of Block 21 in the Turkmen sector of the Caspian Sea will be $5-6 billion, $300 million of which accounts for investments during the exploration phase, First Deputy Chairman of the Management Board of Itera Gennady Skidanov said on the eve of the 17 th International Conference Oil and Gas of Turkemnsitan.
He noted that Itera has been carrying out multiplane projects in the oil and gas industry of Turkmenistan on a mutually beneficial basis for over 18 years. The matter is participation in the selling of Turkmen gas to foreign markets, the development of transportation infrastructure and the development of hydrocarbon resources in the Turkmen sector of the Caspian Sea.
PSA was signed in September 2009 between the company and the State Agency for Management and Use of Hydrocarbon Resources under the President of Turkmenistan.
In accordance with the work plan, geochemical surveys are completed, marine seismic services of an area prospective for oil and gas are carried out. As a result of seismic work two structures were identified in Block 2: West Erdekli and the South Erdekli
Skidanov noted that as a result of geochemical studies five anomalous zones prospective for hydrocarbons were found in Block 21, areas for priority search were identified. It is about the eastern and north-western parts of the structure of West Erdekli.
Later 2D offshore work in the volume of 176 line kilometers and 3D seismic survey in the area of 216 square kilometers were carried out.
"Today we can be optimistic to say that the study made it possible to confirm the high prospect of the structure in terms of hydrocarbons," Skidanov said.
Currently processing and interpretation of seismic 2D/3D data, performed with the assistance of a database of previous research within Block 21, is completed. Thus obtained geological and geophysical materials allowed to determine the spatial and depth limits of identified promising objects, and to assess the hydrocarbon resources for the planning of exploration drilling.
Skidanov also noted that oil and gas resources of Block 21 may be classified as unique.