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No hollow oil wells
New oil wells on the Caspian Shelf of Turkmenistan give much oil

The role of export of oil and gas significantly increased for Turkmenistan especially after gaining state independence. Oil and gas sphere has become the core of the Turkmen economy, it allows to carry out most daring projects, built plans for future. No need to explain how much young state needs it.

However, export is uneasy business to carry out. Even such solvent state as Turkmenistan faces difficulties in its export process. Large investments, high technologies are necessary. But attraction of investments as well can not be included into the list of simple state tasks. A number of factors play important role - political situation in the state, current legislation, climatic features. But the most important is real existence of commercial reserves of raw material assumed for processing.It is no a secret that a number of contracts were terminated in Azerbaijan - the "Caspian" neighbour of Turkmenistan - because of "zero" results after prospecting drilling in contractual territories. It appeared to be hollow. For this reason the question on reserves of hydrocarbons - is more political than economic one. It periodically becomes a subject of gamble at various levels, on interstate as well.

However, Turkmenistan always considers this issue very delicately, demanding from the appropriate services not victorious official reports, but first of all, reliability. The sphere is really delicate: if one underestimate existing reserves - will not have investments, if one overestimate them - he will be considered as unreliable partner. Therefore, large international companies, which carry out exploration on hydrocarbon raw material scrupulously and, the main thing, objectively, as do not depend neither from political, nor on an administration, are of respect. According to one of such companies Western Geophysical estimated oil reserves on Turkmen shelf of the Caspian Sea at 11 billion tons, and reserves of gas are estimated at a level of 5,5 billion cubic meters.

Having based on researches of Western Geophysical, Turkmenistan started offering its contractual territories on a shelf of Caspian sea for international tenders. As a result of tender Malaysian Petronas Charigali, Emirate's Dragoon Oil, American Exon Mobile and many other "whales" of the oil-and-gas industry were interested in these territories. The Russian Zarit (conglomerate of Rosneft, Zarubejneft and Itera and Ukrainian state oil company) as well expressed interest in developing deposits of Turkmen sector of the Caspian shelf Almost all prospecting wells on Turkmen deposits give significant amount of hydrocarbons, making hopes of investors real. Cheleken territory including Jeytun field (former LLAMAS) and Jigalibek (former Zhdanov) is especially "fruitful" in this respect. Its daily debt is 2,000 tons.Thus, Turkmenistan again has confirmed reputation of diligent and reliable partner having in the bowels solid reserves of hydrocarbons.

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By Muhammed Shaldiyev

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