INFORMATIONS ABOUT THE LICENSED BLOCKS 

OF THE TURKMEN SECTOR THE CASPIAN SEA 

The development of oil and gas resources of Caspian Sea’s Turkmen sector on the basis of the Law of Turkmenistan “On Hydrocarbon Resources” is one of the priority issues for investment in the oil and gas industry of Turkmenistan.

The hydrocarbon resources of the Turkmen sector of the Caspian Sea are estimated at 12.1 billion tons of oil and 6.1 trillion. cubic meters of gas.

Turkmen sector of the Caspian Sea is divided into 32 licensed blocks, of which 2 blocks are currently under Petroleum Operations, and the remaining blocks are subject to direct non-exclusive negotiations for all interested parties.

The law provides the following types of contracts:

1) Production Sharing Agreement;

2) The concession agreement on the terms of royalties and tax;

3) Agreement on Joint Activities;

4) Service contract with risk.

Depending on the nature of specific oil works and other circumstances, a combination of these types and other types of Contracts is allowed.

Currently, within the framework of the concluded Production Sharing Agreements, the State Concerns “Turkmengaz” and “Turkmennebit” successfully cooperate at sea with the companies Dragon Oil (Turkmenistan) Ltd. (UAE), Petronas (Malaysia).

Detailed technical information on the offshore blocks of the Turkmen sector of the Caspian Sea is presented in the form of data package containing geological, geophysical and technical information that can be obtained by contacting the State Corporation “Turkmengeology”.

To date, the State Concern "Turkmennebit" has prepared a package of geological and technical information on offshore blocks 11, 12, 16, 21, 23, 24 for interested potential investors for detailed acquaintance of investors.