The message said that during the meeting with Turkmen President Gurbanguly Berdimuhammadov, the head of Itera, Igor Makarov expressed the desire to provide great potential of the company for the implementation of promising joint projects in various areas within the large-scale reform programs implemented in the country, including the oil and gas sector and construction.
“Stressing the exceptionally high interest of the holding led by him for the comprehensive cooperation with Turkmenistan, Igor Makarov confirmed his intention to expand the presence of Itera on the Turkmen market,” said the message.
Earlier it was reported that Itera works on 21 blocks in the Turkmen sector of the Caspian Sea. The corresponding production sharing agreement (PSA) was signed in 2009.
Following the results of 2D/3D seismic data processing, the estimated recoverable reserves of the block are about 800 billion cubic meters of gas and 95.5 million tons of liquid hydrocarbons. Itera has estimated the total investment in the project at the level of $6 billion.
Two structures are allocated on the block: Western Erdekli and South Erdekli. The company said that the studies helped to ensure high prospects of the structures for hydrocarbons and attribute them to the category of unique ones.