Foreign companies actively invest in development of Turkmen hydrocarbon fields

AKIPRESS.COM - Active attraction of foreign investment and experienced foreign companies in the oil and gas sector of Turkmenistan is among the key tasks, Business Turkmenistan reports. Turkmenistan possesses significant hydrocarbon reserves. In this regard, the idea of​​integrating the energy markets of Europe and Asia is being consistently promoted to ensure broad access to energy resources.
Since the commissioning of the Turkmenistan-China transnational gas pipeline in December 2009, billions of cubic meters of high-quality natural gas have been exported to China annually from fields operated primarily by the Türkmengaz (Turkmen Gas) State Concern.
Turkmenistan presently supplies gas to the Russian Federation via the Central Asia-Center gas pipeline within the framework of a five-year contract concluded with Gazprom.
An agreement was signed with the Japanese company Mitsubishi Corporation for the preliminary technical design of a plant for the production of 10 billion cubic meters of commercial gas per year, which is planned to be built as part of the next stage of the development of Galkynysh. Earlier, three gas processing complexes with a total capacity of 30 billion cubic meters of natural gas were put into operation at the field.
One of the most ambitious projects aimed at strengthening the raw material base of the industry is the industrial development of the world's largest onshore gas field - Galkynysh.
At the end of 2018, an additional agreement was concluded with the TATNEFT Public Joint Stock Company of the Republic of Tatarstan for the provision of services for the overhaul of 88 wells at the Goturdepe field.
In May this year, Türkmengaz State Concern was authorized to conclude a contract with the Turkmen Petroleum Products Trade DMCC company, registered in the United Arab Emirates, for the provision of services to increase the level of natural gas production at 30 wells of the Dovletabat gas field.
Great prospects are associated with the fields of the Turkmen sector of the Caspian Sea as experts estimate their reserves at 12.1 billion tons of oil and condensate, and 6.1 trillion cubic meters of natural gas.