(MENAFN- Trend News Agency) ASHGABAT, Turkmenistan, February 12. After
conducting exploration work in the oil and gas well at Block 19 in
the Turkmen sector of the Caspian Sea, Dragon Oil, owned by the
Emirates National Oil Company (ENOC), intends to proceed to the
testing phase of the field in order to achieve production of 20,000
barrels of oil per day, Trend reports.
This was stated by the Chief Executive Officer of the company,
Ali Rashid Al-Jarwan, at a meeting with the leadership of
Turkmenistan's Turkmennebit State Concern, held in Ashgabat.
As he noted, the first stage of research entails the exploration
of hydrocarbons in an oil and gas well at Block 19, which covers an
area of 3,800 square kilometers, because primary data indicate the
presence of a large number of hydrocarbons due to their location in
an area with abundant geological resources.
Furthermore, Ali Rashid Al-Jarwan stated that if initial
research on the quantity of hydrocarbons yields positive results,
they will create a complete strategy for the field's
development.
Meanwhile, in January of this year, the Turkmenistan State
Concern and Dragon Oil inked a Memorandum of Understanding under
which the Dubai oil business will begin developing three
prospective fields near Turkmenistan.
Dragon Oil has been carrying out oil and gas cooperation with
Turkmenistan on the basis of a Production Sharing Agreement since
2000, and its main activity is the extraction of hydrocarbon
resources in the Caspian Sea, in particular in the Cheleken
contract zone.
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