Oil production increases in Turkmenistan's west
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By Aynur Karimova
Oil production at Goturdepeneft oil and gas production department in energy-rich Turkmenistan exceeded 1.7 million metric tons in the first half of 2015.
This figure is equal to roughly half of the crude production by
the country's Turkmenoil state concern, Oil and Gas Industry and
Mineral Resources Ministry reported.
Oil was produced at wells Nos 167, 1770, 650 at Dagadzhik, as well
as the East and North Goturdepe fields in recent months. Their
daily production rate is 20-60 metric tons of oil.
As of now, well No 218 is being drilled at North Goturdepe field on
the Caspian Sea shelf.
Turkmenoil state concern expanded the scope of its exploration
and drilling work, increased oil and gas production, as well as put
42 wells (34 exploratory and eight production wells) into operation
in the reported period.
While exploring a shallow part of the sea, Turkmenoil uses modern
equipment and highly efficient technologies on two or more horizons
on one well.
The resources of the Turkmen shelf of the Caspian Sea are estimated
at 12 billion metric tons of oil and 6.5 trillion cubic meters of
gas. A number of the contracted middle and deep areas were put up
for international tender.
Currently, the state enterprise operates about 30 fields, including
more than 600 oil and gas deposits at different stages of
development.
Turkmenistan produces around 10 million metric tons of oil per year and a significant part of this fuel is sent for refining at local enterprises. The country plans to bring the capacity of the refining industry to 20 million metric tons of oil by 2020, 22 million metric tons by 2025, and to 30 million metric tons by 2030.
It is expected that the volume of foreign investments in the development of Turkmenistan’s oil and gas projects under production sharing agreements will exceed $3.5 billion in 2015.
Companies like Petronas, Dragon Oil, RWE, Dea AG, Itera and others have been involved in the development of hydrocarbons in Turkmenistan’s territorial waters in the Caspian Sea under the production sharing agreements.
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Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova
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