Ashgabat, Turkmenistan, Aug. 2
By Huseyn Hasanov – Trend:
Chief Executive Officer of the Malaysian company Petronas Tan Sri Wan Zulkiflee bin Wan Ariffin held several meetings with the heads of the Turkmen fuel and energy complex, Trend reports referring to the Turkmen Foreign Ministry.
Tan Sri Wan Zulkiflee bin Wan Ariffin met with adviser on oil and gas issues of the Turkmen president Yashygeldi Kakaev and deputy prime minister, foreign minister Rashid Meredov in Avaza tourist zone.
Petronas is the first foreign company which started to develop the Turkmen shelf of the Caspian Sea. Presently, it is interested in partnership with the Turkmen side in the field of petrochemistry and other promising spheres. The parties discussed the issues of further expansion of business partnership.
The Malaysian delegation expressed great interest in intensifying the ties and expressed readiness to take an active part in the implementation of large-scale projects.
Malaysian Petronas company has invested about $11 billion in the Turkmen fuel and energy complex since 1996.
The total area of the Block 1 contract territory is about 1,467 square kilometers. It includes Diyarbekir, Magtymguly, Ovez, Mashrykov and Garagol Deniz fields. Proven reserves reach at least 1 trillion cubic meters of gas, more than 200 million tons of oil and 300 million tons of gas condensate.
The company began to produce crude oil in 2006, while natural gas in 2011. The oil transportation route passes through Azerbaijan.
The company installed equipment that allows producing gas in the volume of more than five billion cubic meters per year, oil – 35,000-40,000 barrels per day.