Ashgabat, Turkmenistan, Aug. 9
By Huseyn Hasanov – Trend:
President of Turkmenistan Gurbanguly Berdimuhamedov received head of ARETI International Group (headquarters in Geneva) Igor Makarov, Trend reports referring to the Turkmen government.
The views on the prospects of partnership in the oil and gas sector were exchanged.
Makarov confirmed interest in implementing new joint projects in the energy sector.
ARETI has been operating in the local market since 2009 on the basis of a production sharing agreement and is an operator on 21 blocks of the Turkmen shelf of the Caspian Sea. There are two structures West Erdekli and South Erdekli here.
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) state concern 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 state concern obtained an industrial flow of natural fuel.
According to the preliminary estimates, the well productivity makes up 500,000 cubic meters of natural gas and 150 tons of gas condensate daily.
The corporation was created as a result of the rebranding of the ITERA international group of companies, formed in 1992, the official website of ARETI said.
The main activities of ARETI are the 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.