...

PSA dynamically developing in Turkmenistan

Turkmenistan Materials 25 August 2012 14:45
PSA public-private partnerships are rapidly developing in Turkmenistan, the Economy and Development Ministry said.
PSA dynamically developing in Turkmenistan

Turkmenistan, Ashgabat, Aug. 24 /Trend H.HAsanov/

PSA public-private partnerships are rapidly developing in Turkmenistan, the Economy and Development Ministry said.

The fact that the share of oil and gas production by joint ventures and foreign companies is increasing.

Perspective directions established in the frame of the law On Hydrocarbon Resources, according to which the following kinds of agreements: Production sharing agreement, agreement on concessions on the terms of royalties and taxes, agreement on joint activities, and other types of contracts are used in Turkmenistan.

Companies from the UK, Russia, Germany, Italy, Malaysia, Turkey, Canada and China are operating in Turkmenistan through PSAs. In particular, such companies as Petronas, Dragon Oil, Burried Hill, RWE, Itera, Zarubezhneft, ENI (swallowed shares Burren Energy), CNPC are involved in the development of the Turkmen part of the Caspian sea.

Ashgabat's priority is signing PSAs with foreign companies on the development of capital-cost fields in the Caspian Sea through direct negotiations. Negotiations with such companies as Chevron, ExxonMobil, Total, Gas de France, Eni, ConocoPhilips, Midland Oil & Gas, British Petroleum and several companies from the Far East and the Persian Gulf are being held.

Latest

Latest