CNPC Helps Turkmenistan Build Gas Wells That Could Yield 51 Million Cubic Meters Of Gas

  • Time of issue:2021-08-30 12:22:35
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CNPC Helps Turkmenistan Build Gas Wells That Could Yield 51 Million Cubic Meters Of Gas

  • Time of issue:2021-08-30 12:22
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On Aug. 23, China National Petroleum Corporation (CNPC) and Turkmenistan, a Central Asian country, held a ceremony to launch a cooperation project. It will help build three new gas wells in the largest Galkynysh gas field, Reuters cited informed sources.

Under the contract, CNPC will help Turkmenistan build three new gas wells producing about 3 million cubic meters per day over 2.5 years. Another source said that the wells were built by UAE's Gulf Oil & Gas but were never completed. It indicates that the new drilling is a challenging thing.

Meanwhile, in exchange, natural gas will be exported from Turkmenistan to China. CNPC will receive 17 billion cubic meters of gas per year from Turkmenistan, with a total of 51 billion cubic meters over three years, according to an informed source.

At present, Reuters said it could not immediately contact CNPC for comment.

As previously reported by AFP, Turkmenistan is highly dependent on energy exports, which account for more than 90% of its export trade. At the 25th International Congress of Turkmenistan on Oil and Gas in 2020, Turkmenistan's Prime Minister Meredov noted that China is currently the largest exporter of Turkmenistan's gas, with the country exporting about 40 billion cubic meters of gas to China via pipeline every year. This figure is 6-7 times the amount of Russian gas exported by Turkmenistan, AFP said.

And on June 21, Turkmenistan's Deputy Prime Minister in charge of the oil and gas complex, Abdurakhmanov, announced at a government meeting that CNPC had won the tender for the new well project in the Galkinesh gas field. The President of Turkmenistan Berdymukhamedov, who attended the meeting, said that Turkmenistan needs to speed up industrial development of oil and gas extraction, "and in this regard, we have accumulated good cooperation experience with large Chinese companies in the implementation of important projects in the field of energy."

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