OREANDA-NEWS. January 29, 2007. In 2008, Turkmenistan’s large hydrocarbon deposits will be audited. As is known, this task President of Turkmenistan Gurbanguly Berdymuhamedov set to the high-ranking officials of the national oil and gas industry ministries and departments at the recent sitting of the Cabinet of Ministers stating the necessity to implement in full the existing profound resources potential, which stands nowadays as a guarantor of success of the large-scale social and economic development programmes launched in the country and initiated for the happiness and benefit of the Turkmen people.

According to the Ministry of Oil and Gas Industry and Mineral Resources, certifying the reserves that the country is rich in, will enable to accelerate development of the oil and gas prospective areas and to transfer a major part of the probable hydrocarbon resources into the reserves of the industrial category. To date, over a thousand oil and gas prospective structures have been prospected both on land and in the sea. Of them over 150 deposits have been explored and over 50 oil, oil-and-gas and oil-gas condensate deposits are being developed.

As one of the world’s energy exporters Turkmenistan rich in hydrocarbon resources is much interested in the reliable, and what is more important, weighty assessment of the claimed oil and gas reserves that is conditioned by the following factors: the international audit conducted by the world-renowned consulting companies will promote considerable increase in the prospected natural gas reserves and acceleration of commercial production of rich pools, expand the existing energy potential of Turkmenistan’s oil and gas industry, update the long-term strategy of the leading sector of Turkmen economy.

The audit data confirming the availability of the solid resource basis will promote establishing business contacts with the potential partners and investors. More and more foreign companies attracted by the open door policy and favourable investment climate in Turkmenistan state their intention to collaborate actively in the large-scale projects on hydrocarbon resources development

In 2004, Turkmenistan conducted the international audit of the explored oil and gas reserves in some deposits under the agreement concluded with the world-renowned consulting companies such as DeGolyer & MacNaughton (United States), which conducted the audit of the reserves of the Dovletabad gas field, the largest one in Turkmenistan, and Gaffney, Cline & Associates Ltd (Great Britain), which certified the reserves in the gas deposits in the east of Turkmenistan.

The Turkmengeologiya State Corporation will audit the real reserves of the largest gas and oil bearing area discovered in the southeast of the country for the past ten years – Gunorta Yoloten and the Osman deposit located nearby. The exploration work conducted in the region enables to assume that both hydrocarbon treasuries are the same oil and gas accumulation zone, in other words, are the largest deposit of global importance with several productive horizons laid at different depth. If it is confirmed one can say about the most exciting discovery in the history of oil and gas production in Turkmenistan.

At present, Turkmenistan is negotiating with a world-renowned international company the audit of the reserves in the deposits Gunorta Yoloten and Osman

In the future, the general audit of the total reserves of natural resources in Turkmenistan, whose profound hydrocarbon potential will promote fulfilling the designated tasks and achieving the goals of energy security for the country and the multivariant export pipeline network to supply Turkmen energy resources to world markets, will be conducted in Turkmenistan.