OREANDA-NEWS. December 31, 2009. The ceremony of signing the large of Southern Yoloten gas field in the east of the country took place in the Turkmen capital. In total, the agreements signed by Turkmengaz State Concern with the leading companies of South Korea, China and the United Arab Emirates amounted to USD 9.7 billion.

This event marks a new important step to implement Turkmenistan’s energy strategy, and particularly such aspects as enhancing the capacity of the fuel and energy sector, extending resource infrastructure of the export pipelines through accelerated construction and putting into production of new hydrocarbon fields discovered in the country in recent years.

The contracts signed with the companies Gulf Oil & Gas Fze, Petrofac International (UAE) LLC (UAE), CNPC Chuanging Drilling Engineering Company Limited (PRC) and the consortium of LG International Corp. and Hyundai Engineering Co. Ltd (South Korea) gave start to the large projects of regional and global importance. The project implementers are the winners of the international tender announced by Turkmengaz State Concern, whose commercial offers met the required specifications including the major one – the use of advanced technology and innovation know-how for constructing production infrastructure and developing the field of.

As for the specific fields of cooperation, Gulf Oil & Gas Fze (UAE) is to design and construct underground facilities including field wells in Southern Yoloten field that will ensure production of 20 billion cubic metres of gas a year. The same works – design, drilling of wells and construction of surface field facilities that will ensure annual production of 10 billion cubic metres of gas are to be performed by the Chinese company CNPC Chuanging Drilling Engineering Company Limited.

Two other partners of Turkmengaz State Concern will build the gas processing facilities in Southern Yoloten field. Petrofac International (UAE) LLC (UAE) will design and build the gas desulfurization unit with the capacity of 10 billion cubic metres of tank gas a year and surface field facilities with the annual capacity of 20 billion cubic metres of fuel. The contract signed with the consortium of South Korean companies LG International Corp. and Hyundai Engineering Co. Ltd provides for design and turnkey construction of the gas desulfurization plant with the capacity of 10 billion cubic metres of tank gas.

Ranking among the top oil and gas producers in the world Turkmenistan takes a highly responsible and constructive approach to fulfilling the tasks of effective implementation of its profound energy potential. The scale of the tasks set today to Turkmenistan’s fuel and energy sector including the development of abundant natural resources of the right bank of the Amu Darya River and other oil and gas regions opens up the vast opportunities for wide international cooperation in this strategically important sector on terms of real economic benefits. This event will also be a good prelude to fruitful partnership that will promote the economic relations and the welfare of peoples.