Turkmenistan invites foreign companies to develop country's oil sector in Caspian Sea

  28 November 2018    Read: 1380
Turkmenistan invites foreign companies to develop country

The Turkmen sector of the Caspian Sea is divided into 32 licensed blocks, in five of which oil works are undergoing, Chairman of Turkmen Oil state concern Dovletdurdy Hajiyev said, according to a message of the company.

"The remaining blocks are the subject of direct non-exclusive negotiations for all interested parties," he noted at the international energy forum in Ashgabat, noting that the priority is to conclude production sharing agreements with foreign companies.

Local experts note that more than 80 percent of the resources of the Turkmen sector of the Caspian Sea are located in deposits at depths of more than 3,000 meters and in poorly studied areas of oil and gas accumulation. Middle Caspian and South Caspian oil and gas basins are considered promising.

The message reads that under the law of Turkmenistan "On Hydrocarbon Resources" and the concluded production sharing agreements, Turkmen Oil successfully cooperates on the implementation of a number of projects with Dragon Oil, Eni, Buried Hill, Mitro International and ARETI companies.

Moreover, the state concern is ready to consider possible cooperation with companies that have innovative technologies in such areas as know-how of well completing, cementing and completion of a productive section. It is about the use of various flushing liquids in drilling directional and horizontal wells, as well as in ensuring successful fastening in areas of abnormally low and high reservoir pressures.

Turkmen Oil is also interested in technologies to prevent sand problems in producing wells and to strengthen filter zones of wells as well as to carry out waterproofing repair work and eliminate water flows in oil and gas wells.

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