Azernews.Az

German RWE Dea concern, which has been working on Block 23 in the Turkmen section of the Caspian Sea since 2009, has been presented in Turkmenistan's capital of Ashgabat, the Oil and Gas Industry and Mineral Resources Ministry of Turkmenistan reported.

According to the report, the presentation covered the theme "Block 23 - seismic survey, processing and interpretation of final seismic exploration data. Representatives of Turkmenistan's oil and gas complex and state concerns attended the event.

Initial stages of the operation, database, field seismic exploration work, processing and interpretation of seismic data were discussed during the presentation.

"The overview of construction of West-Keymir 1 well, and specifically the introduction of the West-Keymir-1 well, its design and engineering, civil construction of camps, drilling sites and access roads were also presented," the report said.

During the last presentation of RWE in Ashgabat in 2012, the reports were made on processing, interpretation of seismic zones of the Caspian Sea. Special attention was paid to issues of regional correlation of horizons, structures of onshore and offshore seismic sources of shallow water, geological exploration and drilling.

At that time, representatives of the company stressed that the work here was carried out without explosives. In August 2012 the company completed 3D-seismic survey, which was for the first time carried out in this part of the Caspian Sea, and covered about 400 square kilometers.

In accordance with the Production Sharing Agreement (PSA), the license provides exploration for six years.

Resource estimates are not known yet. Upon discovery of hydrocarbon reserves a license will be issued for their commercial production for 25 years. Total expenditures during the initial exploration period of four years are estimated at $60-$80 million.

An exploratory well is planned to be drilled in accordance with the results of seismological exploration. In future the Caspian region will play an important role in ensuring Europe's energy supply, and is of great importance for the RWE Dea, the company's report said earlier.