OREANDA-NEWS. October 27, 2008. Turkmengeologiya State Corporation has transferred the deposits in the Amu Darya River basin Southern Yoloten-Osman and Yashlar to the balance of Turkmennebit State Concern. The reserves of these deposits were certified by the well-known international consultant – the Gaffney, Cline & Associates firm (Great Britain) on the instructions of President Gurbanguly Berdimuhamedov.

This summer the British firm Gaffney, Cline & Associates concluded the contract with the Turkmengeologiya State Corporation for auditing oil and gas deposits in Turkmenistan. The preliminary results of the audit became a world sensation: Southern Yoloten-Osman in the east of the country was recognized as the largest in the world.

The British experts estimated the reserves of the deposit Southern Yoloten-Osman as: low estimate – 4 trillion cubic metres, optimum estimate – 6 trillion cubic metres and high estimate – 14 trillion cubic metres. To compare: optimum estimate – 6 trillion metres is as high as five times than that of the largest deposit in Turkmenistan – Dovletabad that puts Southern Yoloten-Osman in the fourth-fifth place in the world. Ongoing drilling operations and additional seismological research will allow adjusting the estimates of the amount of hydrocarbon resources hidden in the depths of the perspective deposit.

In accordance with the international system of reserve estimation and classification the GCA experts estimated the amount of gas reserves of the Yashlar deposit as 0.25-1.5 trillion cubic metres. These figures will be adjusted.

Turkmenistan views its abundant natural sources as an essential factor for dynamic development of the domestic economy, a guarantee of the welfare and prosperity of the Turkmen people. The strategy of priority development of Turkmenistan’s fuel and energy sector stipulating for multifold increase of the volume of hydrocarbon production, processing and export in the next ten years is based on the huge explored and geological hydrocarbon reserves hidden in the depths of the country. They are preliminary estimated as 45.4 trillion cubic metres of reference fuel. It is only the initial figures: the deposits in Turkmenistan have the complicated, multipay structure and the geological map of Turkmenistan still has many ‘blank spots’ in spite of the centuries-old history of hydrocarbon production in the region.

That is vividly evidenced by the discovery of Southern Yoloten-Osman. In accordance with the preliminary estimate, the total area of this oil-and-gas accumulation region is 1,800 square metres, the thickness of the productive stratum exceeds 600 metres and the total potential of the deposit ranges from 4 to 14 trillion metres. According to Turkmengeologiya State Corporation, the deposit will be developed step-by-step as the international experts consulted that coincide with the Turkmen specialists’ opinion. The first project stage is designed for production of 10 billion cubic metres a year. Then the volume of production will be gradually increased – to 20, 30, 50 and 70 billion cubic metres. Moreover, the depths of Yoloten are rich in oil development of which was started several years ago. Yoloten’s oil is an additional source of hydrocarbons for the Seydi oil refinery. This is an important factor for actively bringing the rich deposit into development.

Over 150 deposits were discovered in the territory of the country, both on land and continental shelf of the Caspian Sea. Out of them 50 were brought into development. On this basis the long-term agreements on gas co-operation were concluded with Russia, China, Iran, the Memorandum of Understanding in Energy Cooperation was signed with the European Union. Under the international agreements construction of the Turkmenistan-China gas pipeline was started, the Central Asia-Centre gas transport system was reconstructed – Kazakhstan and Uzbekistan take active part in these projects. In collaboration with the foreign governments, international banks and organisations several alternate projects of the transnational gas pipelines such as the Turkmenistan-Afghanistan-Pakistan-India pipeline and the Caspian Sea gas main were designed.

Each of these projects is of paramount social, economic and geopolitical significance. Called into existence by the modern realities they are to facilitate fruitful international energy co-operation, to ensure global energy security and eventually to strengthen the economic ties, peace and stability, the growth of the people’s welfare. Addressing the 62nd session of the UN General Assembly in New York President Gurbanguly Berdimuhamedov said that “in this vein Turkmenistan builds its energy strategy aiming to develop the diversified pipeline system to export Turkmen energy resources to the world markets on the consistent and long-term basis.”

In a word, firmly asserting itself among the world’s oil and gas producers Turkmenistan demonstrates the responsible and constructive approach to effective implementation of its colossal energy potential. Advocating wide international co-operation, inviting foreign firms and companies representing the global financial circles and oil and gas business community to the country Turkmenistan stands ready to provide the necessary guarantees of protection to the investments made in the joint work on field development, construction of gas pipeline and facilities of energy infrastructure.

President Gurbanguly Berdimuhamedov said that these factors had conditioned the international audit of oil and gas deposits in Turkmenistan. It can be said that the initial results of the audit conducted by the GCA firm vividly and convincingly prove the status of Turkmenistan as one of the world’s energy producer and its reputation of being a dependable and very promising partner.