Ashabat, Turkmenistan, January 21
By, Huseyn Hasanov - Trend:
President of Turkmenistan Gurbanguly Berdimuhamedov instructed to undertake the accelerated industrial development of new oil and gas fields including in Turkmen sector and the coastal zone of the Caspian Sea, Trend reports via the Turkmen media outlets.
At the last meeting, government presented a report on the preparation of a program for the development of oil and gas industry in the country for 2019-2025. The head of state drew attention to the need of diversification of the industry and building modern complexes specializing in the processing of oil and natural gas.
"The Program should provide measures aimed at increasing hydrocarbon production, strengthening the raw material base of the fuel and energy complex, accelerated industrial development of new fields, including in Turkmen sector and the coastal zone of Caspian Sea and further development of the Galkynysh gas field” Berdymuhamedov said, while noting the importance of using digital technologies as well as 3D-modeling methods in this work.
There are 32 licensed blocks with projected reserves of 11 billion tons of oil and 5.5 trillion cubic meters of gas without counting already contracted blocks in the Turkmen part of the Caspian Sea were put up for international tender.
Thirty two licensed blocks with projected reserves of 11 billion tons of oil and 5.5 trillion cubic meters of gas from the Turkmen part of the Caspian Sea (excluding already contracted blocks) were put up for international tenders.
The priority is to conclude production sharing agreements (PSAs) with foreign companies.
Local estimates demonstrate that more than 80 percent of resources of the Turkmen part of Caspian Sea are located in sediments at depths above 3,000 meters and in poorly studied areas of oil and gas accumulation.
Turkmenistan annually produces about 10 million tons of oil. Production is provided by the state-owned Turkmen Oil and PSA-based companies from the United Kingdom, Malaysia, and the United Arab Emirates.
International companies such as Petronas, Dragon Oil, Buried Hill, Areti and Eni are involved in the development and research of hydrocarbon resources of the Turkmen part of the Caspian Sea.