Petronas and partners signed a new production sharing contract with national oil company Turkmennebit for offshore Block I gas and condensate fields in Turkmenistan.
Block I lies in the Caspian Sea and currently produces about 400 MMcfd of natural gas with access to over 7 tcf of natural gas resources and future opportunities for production capacity expansion, block partner XRG, an ADNOC-owned company, said in a May 14 release.
Petronas will be operator of Block I (57%) with partners XRG (38%) and Turkmenistan State Enterprise Hazarnebit (5%). XRG is 100% owned by ADNOC.
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).
