Turkmen president orders to speed Caspian shelf development
ASHGABAT – Kurbanguly Berdymukhamedov, President of Turkmenistan, Central Asia's top gas exporter, has ordered his nation's fuel and energy sector managers to speed up development of oil and gas fields on the Caspian Sea shelf, Russian RIA Novosti news agency reported.
Work on an environmental study of the projects in the Turkmenistan sector of the Caspian Sea shelf implemented by Russia's Itera and Germany's RWE Dea AG at two blocks respectively, is of top priority, Berdymukhamedov said.
Berdymukhamedov has ordered preparations for an additional agreement to the production-sharing contract with Italy's ENI on the Nebitdag contract area.
He also ordered fuel and energy managers to select a winning bid for development of two other blocks. Chevron, Mubadala and ConocoPhillips are among the contenders.
Turkmenistan's Caspian Sea sector is divided into 32 blocks. Companies which have signed a production-sharing contract with the Turkmen government usually receive a license for exploratory work at one of the blocks for six years. If the company discovers hydrocarbons, it obtains a commercial production license for 25 years.
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