While the world needs a large-scale energy transformation, Turkmenistan is playing an increasing role in this transformation. This was stated by the Chairman of the State Concern “Turkmenneft” Guvanch Agajanov, speaking at the international conference OGT-2024 in Ashgabat on Wednesday.
In this regard, Turkmenistan plays a leading role in ensuring global and regional energy security, the head of Turkmenneft emphasized, whose report was the main one at the session on raw materials for the energy transition.
Presenting the investment potential of the oil and petrochemical industry of Turkmenistan, Agajanov pointed out that the explored reserves of hydrocarbons are large both in the continental part and in the sea.
Our country has a lot to offer: from the development of hydrocarbon resources of offshore blocks in the Turkmen sector of the Caspian Sea, the extraction of hard-to-reach oil from mature land fields using innovative technologies to the modernization of oil refineries.
One of the priority areas of investment in the oil industry of Turkmenistan is the development of hydrocarbon resources of the Caspian Sea. Its Turkmen sector is divided into more than 30 licensed blocks. For a number of them, there is sufficient geological and other information that will be of interest to investors.
The legislation of Turkmenistan provides for the possibility of using any types of oil agreements known in the practice of the international oil and gas industry, provides fundamental guarantees and rights of a foreign investor, a simplified and preferential fiscal system.
Under PSA agreements, Turkmenneft successfully cooperates with Dragon Oil and PETRONAS on the sea shelf and with ENI and Mitro on land. Within the framework of service and other contracts in order to increase oil recovery at existing and promising fields, the concern cooperates with leading companies from the USA, Europe, Singapore, the Russian Federation, China, the United Arab Emirates, Turkey, etc.
Recently, the concern announced an international tender for the provision of services for the intensification of oil and gas production by physical and chemical methods of treatment of the bottomhole formation zone at wells.
Separately, Guvanch Agajanov spoke about the oil refining and petrochemical sector, represented by the Turkmenbashi complex of oil refineries and the Seydi Oil Refinery.
The share of the Turkmen Oil Refinery accounts for up to a quarter of the volume of industrial products produced in the country. Significant investments in the modernization of the plant, which is more than 2 billion US dollars, made it possible to introduce advanced technologies, improve product quality and bring the depth of oil refining to the best world practices.
Today, the Turkmenbashi Refinery Complex is the largest producer of high-octane motor gasoline, jet fuel, hydrotreated diesel fuel, petroleum coke, technical oils, liquefied gas, polypropylene, heating oil, construction and road bitumen and other petrochemical products in Central Asia that meet the highest international quality standards.
As for the Seydi Oil Refinery, Turkmenistan plans to build a modern oil and gas processing complex on its basis, the head of Turkmenneft said.
Agadzhanov made a special emphasis on the work that the concern is doing in the field of ecology, environmental protection and combating climate change. Thus, almost all of the produced associated gas is compressed at seven compressor stations of the concern and used for gas lift, sold to both internal and external consumers.
Contracts have been signed with leading European manufacturers for the purchase of compressor, energy-saving equipment for remote monitoring and control of wells. Several projects with international partners to reduce methane emissions are at the implementation stage.
ORIENT news
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