LUKOIL outlines strategic interests in Turkmenistan
ASHGABAT, Turkmenistan, Feb. 6
By Huseyn Hasanov– Trend:
Turkmen President Gurbanguly Berdimuhamedov received Head of the Russian LUKOIL oil company Vagit Alekperov on Feb. 5, Trend reports referring to the company.
The parties exchanged views on the prospects for the development of the oil and gas industry in Turkmenistan.
The Turkmen president noted the prospects for cooperation with LUKOIL within an interstate dialogue with Russia.
Alekperov, in turn, said that LUKOIL has strategic interests in Turkmenistan, which has significant hydrocarbon reserves.
In December last year, Director of the Russian Foreign Ministry’s Third Department of the CIS Countries Aleksandr Sternik noted major Russian energy companies' great interest in working in Turkmenistan.
Last August, First Deputy Chief of the Government Staff of the Russian Federation Sergei Prikhodko told reporters that Rosneft, LUKOIL and Gazprom companies are interested in developing oil and gas fields in Turkmenistan.
In turn, Ashgabat reported on negotiations with foreign companies. Thus, 32 licensed blocks with projected reserves of 12.1 billion tons of oil and 6.1 trillion cubic meters of gas from the Turkmen part of the Caspian Sea (excluding already contracted blocks) were put up for an international tender.
According to the local estimates, more than 80 percent of resources of the Turkmen sector of the Caspian Sea are located in sediments at depths above 3,000 meters.
Turkmenistan annually produces about 10 million tons of oil. Oil production is ensured by Turkmen Oil state concern and PSA-based companies from the United Kingdom, Malaysia and the United Arab Emirates.
Such international companies as Petronas, Dragon Oil, Buried Hill, RWE Dea AG, ARETI and Eni are involved in the development of the Turkmen sector of the Caspian Sea.
About 190 companies with Russian capital are operating in Turkmenistan. Russia’s Gazprom renewed the purchases of Turkmen gas in 2019, after a three-year hiatus.