Ashgabat, Turkmenistan, June 4
By Huseyn Hasanov – Trend:
President of Turkmenistan Gurbanguly Berdimuhamedov received the head of ARETI international group of companies Igor Makarov, Trend reports referring to the Turkmen government.
The businessman provided information on the activities of the holding company in the country, confirming interest in the implementation of new joint projects, the source said.
ARETI has been operating in Turkmenistan since 2009 based on a production sharing agreement. The company operates on Block 21 of the Turkmen shelf of the Caspian Sea, consisting of 2 structures: West Erdekli and South Erdekli.
The company reported earlier that research had shown that the hydrocarbon structures were highly promising. Following the processing of 2D/3D seismic data obtained after exploration, the estimated recoverable reserves of the block were estimated at 800 billion cubic meters of natural gas and 95.5 million tons of liquid hydrocarbons.
Earlier, a memorandum of understanding was signed between Turkmenistan’s state-owned Turkmen Oil (Turkmennebit) company and ARETI, as part of which preparatory work will be undertaken for the development of a hydrocarbon field in Turkmenistan’s Uzynada island, which was discovered in 2017.
As a result of drilling a well with a projected depth of 7,150 meters in the range of 6,689-6,695 meters, the specialists of Turkmen Oil obtained an industrial flow of natural fuel.
According to preliminary estimates, the well productivity makes up 500,000 cubic meters of natural gas and 150 tons of gas condensate daily.
The official website of ARETI states that the corporation was created as a result of the rebranding of the ITERA international group of companies, formed in 1992. The main activities of ARETI are projects in the field of fuel and energy complex, particularly the development of the shelf of the Turkmen sector of the Caspian Sea, trading, engineering, and development projects, as well as investments in the real sector of the economy.