Turkmenistan needs to speed up industrial development of hydrocarbons

Oil&Gas Materials 11 December 2013 19:48 (UTC +04:00)
Turkmen President Gurbanguli Berdimuhamedov called on speeding up the industrial development of new hydrocarbon fields.

Ashgabat, Turkmenistan, Dec.11
By Huseyn Hasanov- Trend:

Turkmen President Gurbanguli Berdimuhamedov called on speeding up the industrial development of new hydrocarbon fields, a message from the Turkmen government said on Dec.11.

A report about the implementation process of the "Program of development of Turkmenistan's oil and gas industry for the period till 2030" was heard at the last governmental meeting in Ashgabat.

"Focusing on the concrete tasks of the domestic fuel and energy complex, the president stressed the need to intensify work on the accelerated industrial development of new hydrocarbon fields, as well as the development of multi-variant transmission infrastructure that is a powerful factor in ensuring energy security in the regional and global scale," the Turkmen government said.

The promotion of large investment projects aimed at increasing the production capacity of the fuel and energy complex was also discussed at the meeting of the Cabinet of Ministers.

"In this context, the important role is given to the international cooperation in the energy sphere, to the mutually beneficial partnership with oil and gas companies which are reputable in world business circles, have great experience in conducing relevant works and possess advanced technologies," the Turkmen president said.

Turkmenistan is focused on dynamic integration into the global energy system. Currently, along with supply of natural gas to Russia, China and Iran, there are variants being worked out for export to both Europe and the East.

Over 162 oil and gas fields have been discovered and over 1,000 areas of prospective seats have been found in Turkmenistan. The recently discovered Galkynysh field is being developed. The total resources of this field including the areas located close to it are estimated at 26.2 trillion cubic meters.

Currently the second stage of industrial development of the field is underway there. The CNPC is carrying out works on construction of a gas treatment plant with capacity of 30 billion cubic meters of marketable gas per year.

The first stage of development of the Galkynysh field was completed in September 2013. This project was implemented by companies such as CNPC Chuanqing Drilling Engineering Company Limited (China), LG International Corp and Hyundai Engineering Co., Ltd (South Korea), Petrofac International LLC., and Gulf Oil & Gas FZE (UAE).

According to the development program of Turkmenistan's oil and gas industry, it plans to bring the annual natural gas production to 230 billion, in 2030 and to send the major part of this volume for export.

With the aim of diversifying the economy, Turkmenistan significantly invests in processing production. A number of large projects are being implemented by foreign companies at the country's refining complex with a total investment volume of over $800 million.

Turkmenistan plans to bring the capacity of the refining industry to 15 million tons of oil per year in 2015, to 20 million tons of oil in 2020, to 22 million tons in 2015 and 30 million tons in 2030.

Translated by L.M.

Edited by C.N.