ASHGABAT, Turkmenistan, Feb. 28
By Huseyn Hasanov – Trend:
Turkmenistan and interested parties discussed the issues of attracting investments in the development of offshore blocks of the Turkmen sector of the Caspian Sea within “Oil and Gas Turkmenistan” international roadshow in Dubai (UAE), Trend reports referring to Turkmen Dovlet Khabarlary Agency.
This sector has been divided into 32 license blocks. The foreign companies are conducting exploration and development of deposits in five out of the license blocks.
For example, the total amount of investments of Dragon Oil company in the Cheleken contract area at the beginning of 2020 amounted to $7 billion, while the total volume of oil production since the beginning of its activity (2000) was more than 45 million tons.
The Italian ENI company, operating at the Nebitdag contract area, invested more than $2.1 billion in early 2020 and has produced about 18 million tons of oil since 1997.
The Khazar international consortium also operates in the Caspian Sea. Turkmen Oil State Concern and MITRO International Ltd., Malaysian PETRONAS, ARETI International Group and others are operators in the consortium.
The projects of optimizing mature fields, increasing oil recovery were considered at the plenary sessions. The new mechanisms for cooperation in investment projects were also discussed.
The priority is the conclusion of production sharing agreements (PSA) with foreign companies. According to the local estimates, more than 80 percent of the resources of the Turkmen part of the Caspian Sea are located in sediments at depths of more than 3,000 meters and in poorly explored zones of oil and gas accumulation. The prospects are associated with the oil and gas basins - the Middle Caspian and South Caspian.
The experts estimate the total hydrocarbon reserves in the Turkmen sector of the Caspian Sea at 18.2 billion tons of equivalent fuel.
Dragon oil (UAE) is developing the fields that are part of the Cheleken contract area. The company invested in upgrading the oil and gas infrastructure of the fields.
Moreover, the Turkmen Oil State Concern is ready to consider possible cooperation with the companies that possess innovative technologies in know-how, completion of well development, cementing and opening a productive section.
The Turkmen oil and gas state concerns are interested in the technologies for preventing the occurrence of sand in production wells and strengthening filter zones of wells.
