Potential Turkmen oil and gas reserves increase 50%

The geological reserves of Turkmenistan exceed 71.21 billion tons, Turkmen Vice-Premier Baymurad Hojamuhamedov said at the opening of the oil and gas conference “Development of oil and gas industry of Turkmenistan in 20 years of independence and prospects for cooperation”, ITAR-TASS reports.

Estimates in 2006 said that the reserves stood at 45.44 billion tons, with 27.24 billion of them as ground reserves and 18.2 billion under the sea. Gafni Klein studied Osman, Minara and Yashlar in the Southern Iolotan. It says the reserves exceed 71.21 billion tons, 53 billion of them in the ground and 18 billion under the sea.

Hojamuhamedov reported about 44.25 trillion cubic meters of gas and 8.76 billion tons of oil. Proven gas reserves are 25.213 trillion cubic meters. This allows Turkmenistan to successfully diversify gas routes.
The conference on oil and gas is hosting about 700 delegates, 500 of whom are officials from foreign companies, diplomats and representatives of international organizations.