Russian oil company discusses co-op prospects in Turkmenistan
Ashgabat, Turkmenistan, June 4
By Huseyn Hasanov – Trend:
Turkmenistan is open for constructive interaction with leading representatives of Russian business, said Turkmen President Gurbanguly Berdimuhamedov during a meeting with Director of Russian ARETI group of companies Igor Makarov, Turkmenistan Dovlet Khabarlary reported.
"In this regard, the sides noted the productive nature of business relations with ARETI group of companies," said the message.
During the meeting, the sides exchanged views on the prospects of mutually beneficial partnership, taking into account the priorities of the state development of Turkmenistan, and the possibility of implementing new projects in various fields.
ARETI group of companies said that the company was established as a result of rebranding of the international group of companies ITERA, formed in 1992.
The main activities of ARETI are projects in the field of fuel and energy complex, in particular, the development of the shelf of the Turkmen sector of the Caspian Sea, trading, engineering, development projects, as well as investments in the real sector of the economy.
The company has been operating in Turkmenistan since 2009 on the basis of the signed production sharing agreement. The company is an operator on the 21 blocks of the Turkmen shelf of the Caspian Sea, where two structures are identified: the Western Erdekli and the Southern Erdekli. The company previously said that the research allowed for verifying the high prospects of the studied structures for hydrocarbons.
Following the processing of 2D/3D seismic data obtained after exploration, the estimated recoverable reserves of the block of fields were estimated at 800 billion cubic meters of natural gas and 95.5 million tons of liquid hydrocarbons.