ASHGABAT, Turkmenistan, Oct. 31
By Huseyn Hasanov – Trend:
Turkmenistan and foreign companies are currently conducting direct negotiations on the development of hydrocarbon resources in the Turkmen sector of the Caspian Sea, Trend reports referring to the Turkmengeology State Corporation.
The negotiations are conducted with the possibility of further concluding Production Sharing Agreements (PSAs).
Turkmengeology continues to implement the packages of geological and geophysical information on the Turkmen sector of the Caspian Sea.
Turkmenistan owns a part of the southern and central Caspian Sea. The deep structure of the bottom of the Caspian Sea region and the thermal regime of the subsoil have not been explored well.
Therefore, there is a need to conduct comprehensive geophysical and geological and chemical research throughout the basin.
The Turkmen specialists, together with the Western Atlas and Western Geco companies conducted 2D seismic surveys in the Turkmen sector of the Caspian Sea with a volume of more than 16,000 linear kilometers, explored geological structure of the territory up to a depth of seven kilometers and estimated its hydrocarbon potential.
Some 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.
In accordance with the local estimates, more than 80 percent of resources of the Turkmen part of 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 UK, Malaysia and the United Arab Emirates.
