President of Turkmenistan Gurbanguly Berdimuhamedov:
- Successful development of oil gas branch has great importance for the other branches of national economy
Here you can find out about the main areas of our concern
Turkmen sector the Caspian Sea
The development of oil and gas resources of Caspian Sea’s Turkmen sector on the basis of the Law of Turkmenistan “On Hydrocarbon Resources” is one of the priority issues for investment in the oil and gas industry of Turkmenistan.
The hydrocarbon resources of the Turkmen sector of the Caspian Sea are estimated at 12.1 billion tons of oil and 6.1 trillion. cubic meters of gas.
Caspian Sea Turkmen sector is divided into 32 licensed blocks, of which 4 (four) blocks are currently under Oil Works.
In the years from 1995 to 2000, Western Geophysical conducted a seismic survey and charted the entire territory of the Turkmen sector of the Caspian Sea. The volume of work performed amounted to 16,130 linear meters km. Based on the results of the interpretation of geological and geophysical materials, “Robertson Research International Limited” company prepared a geological survey data package for the Turkmen sector of the Caspian Sea.
The law provides the following types of contracts:
1) Production Sharing Agreement;
2) The concession agreement on the terms of royalties and tax;
3) Agreement on Joint Activities;
4) Service contract with risk.
Depending on the nature of specific oil works and other circumstances, a combination of these types and other types of Contracts is allowed.
Currently, within the framework of the concluded Production Sharing Agreements, the State Concerns of Turkmenistan are successfully cooperating in the implementation of a number of projects both at sea with the companies «Dragon Oil (Turkmenistan) Ltd.», «Petronas», «Buried Hill Serdar Limited» and «ARETI».
Detailed technical information on the offshore blocks of the Turkmen sector of the Caspian Sea is presented in the form of data package containing geological, geophysical and technical information that can be obtained by contacting the State Corporation «Turkmengeology».
The state concern "Turkmennebit" is a large enterprise in the energy sector, which provides complex implementation of programs for the development of the oil industry in Turkmenistan.
The concern unites dozens of various specialized enterprises and carries out the whole range of oil works from searching and exploration of hydrocarbon deposits to the production and transportation of oil, gas and gas condensate.
The concern Includes the Research and Design institute, drilling and oil and gas production enterprises, a field geophysical operations department, as well as various automation, logistics services, oil equipment repair plants and many other enterprises.
The main activity of the concern is concentrated in the West of Turkmenistan and today the oil assets of the concern are concentrated in more than 30 fields.
The main tasks of the concern:
- implementation of the concept of oil industry development;
- exploration and development of oil and gas deposits;
- ensuring the effectiveness and growth of exploration drilling;
- increasing of hydrocarbon reserves and stable growth ofn oil, gas and gas condensate production.
Our international partners
We have been working with a number of international oil companies since 1991