Eric Watkins
Senior Correspondent
LOS ANGELES, May 15 -- Turkmenistan President Saparmurat Niyazov has signed a decree authorizing his country's ministry of oil and gas to make an agreement with Petronas Carigali (Turkmenistan) Sdn. Bhd. (Malaysia) for production from Dyarbekir oil field 50 km off Turkmenistan.
Niyazov's decree provides the legal framework for the start of commercial oil production this year from the field, which lies on Block 1. Petronas has been exploring Block 1 since 1996 and has made two other discoveries, Makhtumkuli and Ovez.
State firm Turkmenneft will ensure the handling of Diyarbekir crude due Turkmenistan under the production-sharing agreement for Block 1, as well as its delivery to refineries in Turkmenbashi.
Contact Eric Watkins at [email protected].
