ASHGABAT, Turkmenistan, February 12. After conducting exploration work in the oil and gas well at Block 19 in the Turkmen sector of the Caspian Sea, Dragon Oil, owned by the Emirates National Oil Company (ENOC), intends to proceed to the testing phase of the field in order to achieve production of 20,000 barrels of oil per day, Trend reports.
This was stated by the Chief Executive Officer of the company, Ali Rashid Al-Jarwan, at a meeting with the leadership of Turkmenistan's Turkmennebit State Concern, held in Ashgabat.
As he noted, the first stage of research entails the exploration of hydrocarbons in an oil and gas well at Block 19, which covers an area of 3,800 square kilometers, because primary data indicate the presence of a large number of hydrocarbons due to their location in an area with abundant geological resources.
Furthermore, Ali Rashid Al-Jarwan stated that if initial research on the quantity of hydrocarbons yields positive results, they will create a complete strategy for the field's development.
Meanwhile, in January of this year, the Turkmenistan State Concern and Dragon Oil inked a Memorandum of Understanding under which the Dubai oil business will begin developing three prospective fields near Turkmenistan.
Dragon Oil has been carrying out oil and gas cooperation with Turkmenistan on the basis of a Production Sharing Agreement since 2000, and its main activity is the extraction of hydrocarbon resources in the Caspian Sea, in particular in the Cheleken contract zone.