Turkmenistan estimates Caspian crude reserves at 12 bn tons

Oct 19, 2010 12:00 AM

Hydrocarbon reserves in Turkmenistan's section of the Caspian Sea are estimated to be 12 bn tons of crude and 6 tcm of gas, Turkmenistan Deputy Prime Minister Baymurad Khodzhamukhamedov said during the 2nd International Investment Forum.

Khodzhamukhamedov noted that Turkmenistan was developing offshore fields  based on direct agreements with foreign investors.
He said that significant increases in Caspian Reserves were expected soon and added that because of this, the Turkmenistan government was planning to announce a tender to build a large export-oriented refinery.

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