The company Dragon Oil (United Arab Emirates), which develops oil and gas fields in the Turkmen sector of the Caspian Sea, has increased its average daily hydrocarbon production by more than 10 times compared to 2000. This confirms the great prospects for the development of offshore hydrocarbon deposits in our country.
Since 2000, the company has been producing hydrocarbon raw materials under the terms of the Production Sharing Agreement on the Cheleken contractual territory in the Turkmen sector of the Caspian Sea. During this time, a large amount of work was done to modernize and develop the infrastructure of the Jeytun and Jygalybeg oil and gas fields, said Ibrahim Parkuev, Director of Business Support for Dragon Oil.
Thanks to the drilled new wells and the overhaul of the wells already in operation at the Jygalybeg and Jeytun fields, the company was able to increase its average daily hydrocarbon production by more than 10 times compared to 2000, Parkuev noted.
According to him, the company does not intend to stop there, continuing to increase hydrocarbon production.
At the international exhibition “Oil and Gas of Turkmenistan-2019”, held last week in Ashgabat, the company “Dragon oil” told numerous foreign visitors that, thanks to the state policy of “open doors”, all the necessary economic and legal conditions have been created in the country to ensure a favorable investment climate for foreign business. In Turkmenistan, foreign partners receive substantial support in the form of tax, customs, visa, insurance and other benefits.
Parkuev described as very great prospects for cooperation in the development of marine blocks of the Turkmen sector of the Caspian Sea. That is why, at OGT-2019, the participants were especially interested in the topic of forming the coastal infrastructure necessary for implementing projects in the Caspian.
The representative of Dragon oil noted that an interesting exchange of views on this topic took place on the sidelines of the industry exhibition. Particularly useful were meetings with the heads of structural divisions of the Russian fuel and energy complex, at which promising projects were discussed.
The company's booth presented at the OGT-2019 exhibition clearly demonstrated the growing international cooperation in the energy sector between the two friendly countries.