Turkmenistan planning second round of tenders for offshore oil and gas fields

May 03, 1999 02:00 AM

According to Azerbaijani media sources, the Turkmen government is still planning to open a second round of tenders for rights to offshore oil and gas fields in the Caspian Sea this year.
Ashgabat is reportedly set to offer 70 oil and gas fields to international oil companies. No information was available as to when the tenders might be called. Ashgabat said in March of this year that it wanted to open bidding in the second half of 1999 but might delay the contest if oil prices remained low.
Turkmen officials also said recently that the second round of bidding would be different from the first. Better terms will be offered, they said, without elaborating.

Mobil and a consortium formed by Texuna of Hong Kong and Cairn Energy of Great Britain were the only two winners declared in the first round of tenders last year, and Ashgabat revoked their rights to the Serdar (Kyapaz) and Gaplan fields earlier this year.

Source: NewsBase
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