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Turkmenistan’s geological reserves of oil and gas exceed 71 bln tonnes – depPM

November 16, 2011, 19:47 UTC+3
Turkmenistan’s geological reserves of hydrocarbons have been estimated at 71.21 billion tonnes of fuel equivalent up to date
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ASHGABAT, November 16 (Itar-Tass) —— Turkmenistan’s geological reserves of hydrocarbons have been estimated at 71.21 billion tonnes of fuel equivalent up to date, Turkmenistani Deputy Prime Minister Baimurad Khodzhamukhammedov said on Wednesday.

While opening an international oil and gas conference entitled “Development of the Oil and Gas Industry of Turkmenistan over 20 Years of Independence and Prospects for the International Cooperation,” he reaffirmed, “In 2006, the country’s geological reserves were estimated at 45.44 billion tonnes of fuel equivalent, including 27.24 billion tonnes of inshore and 18.2 billion tones of offshore reserves.”

“Lately, the country explored a great number of deposits, including large and medium gas fields. It was carried out an independent assessment of the Southern Yolotan-Osman, Minara and Yashlar deposits by the UK’s Gaffney Cline company,” the deputy prime minister said.

“The results of their assessments allowed us to update the country’s total geological reserves of hydrocarbons and to raise the indicator to 71.21 billion tonnes of fuel equivalent,” Khodzhamukhammedov said, adding that of the above mentioned amounts of hydrocarbon reserves, 53 billion tonnes are inland reserves and 18 billion tonnes are offshore reserves.

“Currently, Turkmenistani geological gas reserves are estimated at 44.25 trillion cubic metres, and oil reserves are at 8.76 billion tonnes,” Khodzhamukhammedov said.

In his words, “the country’s proven reserves of gas are at 25.213 trillion cubic metres.” The deputy prime minister is confident that such high indices of assessments allow Turkmenistan to implement the policy aimed at the diversification of export routes.

Taking part in the international oil and gas conference, which opened here on Wednesday, are about 700 delegates. Approximately 500 of them are representatives of foreign companies, diplomatic missions and international organisations.

 

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