CNPC investments value in Turkmenistan's Bagtyyarlyk contract area revealed
ASHGABAT, Turkmenistan, Feb. 28
By Huseyn Hasanov - Trend:
The volume of investments by the China National Petroleum Corporation (CNPC), operating since 2007 on the Bagtyyarlyk contract area in the eastern part of Turkmenistan, amounted to more than $8.2 billion at the beginning of 2020, Trend reports referring to Turkmengaz state concern.
CNPC is engaged in exploration, equipment and development of deposits at the Bagtyyarlyk contract area, which has become one of the sources of raw materials for the Turkmenistan-China gas pipeline, said the report.
The total production volume has reached over 1.5 million tons of gas condensate and more than 100 billion cubic meters of natural gas, about 93 billion cubic meters of which are exported, the report noted.
CNPC signed the Bagtyyarlyk Production Sharing Agreement with Turkmenistan in 2007, and began to purchase natural fuel in Central Asia since 2009, after the launch of a gas pipeline from Turkmenistan to China through the territories of Uzbekistan and Kazakhstan.
Over the entire period of the Production Sharing Agreement, a large amount of work was carried out on the right bank of the Amu Darya River in connection with the conduct of seismic surveys and the drilling of new exploration and production wells. As a result, new gas deposits were discovered at the Samandepe field (block A) and the eastern, southern and northern parts of the Bagtyyarlyk contract area (block B).
High-yield oil and gas inflows were obtained during testing of exploratory wells in the central part of the Amudarya basin.
Two gas processing plants were built on the Samandepe field and in the Hojambaz district of Lebap district in Turkmenistan, along with more than 100 test and production wells, as well as production, logistics and social infrastructure facilities.