Turkmenistan, Ashgabat, Dec. 19 / Trend H. Hasanov /
German concern RWE Dea was presented in Ashgabat. It has been working on block 23 in the Turkmen part of the Caspian Sea since 2009, the Turkmen Ministry of Petroleum and Mineral Resources said today.
The preliminary results of seismic survey were presented in the conference hall of the Turkmen Research Institute of Oil and Gas.
The representatives of the company, employees of the Turkmen oil and gas complex attended the event.
The reports on the processing and interpretation of seismic zones of the Caspian Sea were heard.
Special attention was paid to the regional correlation of horizons, structures of onshore and offshore seismic sources, exploration and drilling.
"In this context, the experts assessed the block 23, revealing the areas with abnormal high pressure and mud volcanoes for risk reduction during drilling operations," a statement said.
Moreover, the representatives of the company stressed that the operations were conducted without explosives. The ministry stressed that geological concepts and perspective areas, discussed during the conference, reveal the aspects of seismic exploration in western Turkmenistan.
"The representatives voiced their desire to continue cooperating with Turkmenistan in the Caspian Sea," a statement said.
The company completed 3D seismic survey, which was conducted in this part of the Caspian Sea for the first time and covering around 400 square kilometers, in August.
According to the Production Sharing Agreement (PSA), a license envisages holding the exploration work during six years.
The resource estimates are unknown. While revealing the hydrocarbon reserves, a license will be issued for the commercial production for 25 years. Total expenditure during the initial period of four years is estimated from $ 60 to $ 80 million.
It is planned to drill an exploration well following seismic survey by 2013.
The Caspian region in the future will play an important role in Europe's energy supply and is of great importance for RWE Dea, the company said in its press-release.
