Turkmen president instructs to intensify searching new oil and gas deposits

Turkmen president instructs to intensify searching new oil and gas deposits

Turkmenistan, Ashgabat, July 17 / Trend H. Hasanov /

Turkmen President Gurbanguly Berdimuhamedov gave several specific instructions at a meeting, including intensifying the exploration and drilling operations in searching for new oil and gas deposits, the Turkmen government said today.

"In this regard, the Turkmen leader made some instructions related to the accelerated equipping new oil and gas areas, intensifying exploration and drilling operations in searching for new oil and gas reserves and introducing modern technologies in the fuel and energy complex," the message said.

The President also stressed that at present, the fuel-energy complex's priority tasks are to increase oil and gas extraction, to ensure diversification of hydrocarbon exports to the world markets and, in general, to modernize the fuel-energy sector.

During his visit to Turkey (February 28 - March 1) President Berdimuhamedov said that the country faces great discovery in exploration, the statement was made during a meeting with Turkish businessmen within a joint business forum in Istanbul.

"We will face great discovery as we widely implement the exploration and investment projects, seeking for specific objectives," the Turkmen leader said.

According to a British Petroleum (BP) report, Turkmenistan ranks fourth in the world after Russia, Iran and Qatar for its natural gas reserves.

The country's major fields are concentrated in the east of the country, "Southern Yoloten - Osman" (recently merged and renamed as Galkynysh) and Yashlar field with total resources estimated by local geologists and British GCA at 26.2 trillion cubic meters.

The largest deposits of the country are concentrated in the Mary region. The geological hydrocarbon reserves as of October 1, 2011 were estimated at 71.21 billion tons of fossil fuel. More than 53 billion tons are in onshore zone, about 18.2 billion tons in the offshore zone.

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