Turkmenistan connects oil output growth with Caspian Sea

Oil&Gas Materials 19 February 2016 17:06 (UTC +04:00)

Ashgabat, Turkmenistan, Feb. 19

By Huseyn Hasanov- Trend:

Turkmenneft State Concern starts implementation of plans on the development of the Turkmen sector of the Caspian Sea, Turkmen Oil and Gas Ministry said.

Turkmenistan's sea resources are estimated at 12 billion tons of oil and 6.5 trillion cubic meters of gas excluding already contracted blocks.

"The first work in this direction was the development of the water part of the Northern Goturdepe field, located in the shallow waters of the Caspian Sea," said the ministry.

"A new technology - drilling of deeper deviant directional operational wells - was used there," said the ministry. "At the same time, drilled wells in the shallow waters of the Caspian Sea in recent years justified the forecasts of geologists and drillers."

As a result of a successful renewal of an offshore well, a new oil reservoir was discovered in 2015 at a depth of more than 4,000 meters, said the ministry adding that a powerful gushing oil flow with a rate of over 250 tons per day was obtained here, which exceeds the average figures of the onshore fields.

Turkmenistan recently obtained a modern drilling rig ZJ-70 DB produced by China, which allows drilling wells with the depth over 7,000 meters, where, according to geologists, the most productive subterranean stratas located.

Drilling of deep offshore wells with the help of the new drilling rig is carried out at the field. Turkmenneft has been conducting studying of the Northern Goturdepe field since 2010.

Moreover, the current level of technological equipment allows continuing subsoil development and discovering new deposits in this part of the Caspian Sea, according to local experts.

Companies of Russia, China, Moldova, Germany, Italy, and Ukraine participated in the major repair work of wells, construction of oil and gas facilities, supply of equipment and special machinery to the Caspian region. New production methods are also being implemented in cooperation with Sinopec Group (China) and Yug-Neftegaz Private Limited (Singapore).

Thirty two blocks, located at the medium and big depth and require large capital expenditures, were put for up international tenders.

Over 80 percent of resources of the Caspian Sea's Turkmen sector is in the sediments at depths of more than 3,000 meters and poorly studied areas of oil and gas, according to local estimates.

Prospects are connected with the Middle Caspian and South Caspian oil and gas basins, according to the ministry.

Petronas, Dragon Oil, Buried Hill, RWE Dea AG, Itera and Eni companies are involved in the development of the Caspian Sea's Turkmen sector. In addition, negotiations with the companies of Europe, the US and Persian Gulf are currently being held.

It was previously reported that in 2015, the total investments of contractors working in the Turkmen sector of the Caspian Sea are estimated at more than $3.5 billion.