Turkmenistan intensifies development of Caspian Sea shelf
Turkmenistan's President Gurbanguly Berdimuhamedov has given instructions regarding the development of hydrocarbon resources in the country's Caspian Sea shelf, read a message from Turkmenistan's government.
This issue was discussed during the meeting of the Cabinet of Ministers.
Director of the State Agency for Management and Use of Hydrocarbon Resources under the President of Turkmenistan Yagshygeldi Kakaev was tasked to take measures for attracting foreign investments in this sphere.
The resources of Turkmenistan's offshore fields are estimated at 12 billion tons of oil and 6.5 trillion cubic meters of gas excluding the contracted blocks. Currently, Petronas, Dragon Oil, Buried Hill, RWE Dea AG, Itera and Eni have been involved in developing the Turkmen part of the Caspian Sea.
Turkmenistan's Oil and Gas Ministry earlier said that Turkmenoil state concern will start to implement the plans for developing the Turkmen sector of the Caspian Sea.
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