Malaysian Petronas Carigali Company, which is active in the Turkmen energy market, will soon start drilling the first well at the Garagol Deniz West field located in the Turkmen sector of the Caspian Sea.
Turkmen Oil and Gas and Natural Resources Ministry reported that development of another promising section of the contract area promises a significant increase in production of hydrocarbon raw materials.
Construction of a pipeline from the Garagol Deniz West field to the gas treatment plant and ground gas terminal located on the sea coast is currently nearing completion.
"The main investments made in the project in 2016 will be directed to drilling of exploitation wells, construction of production platforms, as well as the implementation of project of the Garagol Deniz West field development," the ministry said.
Turkmenistan, which sits on 265 trillion cubic feet of gas and 600 million barrels of oil reserves (EIA, January 2015), is actively implementing an energy strategy aimed at increasing exports of natural gas and diversifying its supply routes to the largest global markets, where the demand for energy resources is growing.