Turkmenistan has announced the international tender for the development of 32 license areas with the forecasted reserves of 11 billion tons of oil and 5.5 trillion cubic meters of gas without account of the blocks which are already being developed. The priority is the conclusion of product sharing agreements (PSAs). By the assessment, 80 per cent of the resources of the Turkmen sector of the Caspian Sea is at the depth exceeding 3 thousand meters. The Turkmen sector of the Caspian Sea is developed by such companies as Petronas, Dragon Oil, Buried Hill, RWE Dea AG. Currently negotiations are held with European, American, and the Persian Gulf companies.