Turkmenistan - Oil and Gas Production Turkmenistan - Oil and Gas
Overview
Turkmenistan is rich in oil and especially gas resources. According to official figures, Turkmenistan’s resource base is approximately 71.64 billion tons of oil equivalent, including 53 billion tons located in onshore fields and 18.21 billion tons in the Caspian Sea. The Government of Turkmenistan announced at May’s 2017 Turkmenistan Gas Conference its reserves were 50.4 trillion cubic meters (tcm). International estimates, however, vary. The 2018 British Petroleum (BP) Statistical Review of World Energy indicated that Turkmenistan, as of the end of 2017, had 100 million tons of proven oil reserves and 19.5 tcm of gas. According to the same report Turkmenistan, with a local annual consumption of 28.4 bcm of gas, produced 62 bcm of natural gas in 2017 and exported 33.6 bcm in 2017, 31.7 to China. In May 2018 the China National Petroleum Corporation (CNPC) reported that the cumulative volume of natural gas exported from Turkmenistan to China reached 204 bcm. CNPC did not specify how much of the 204 bcm was produced by TurkmenGas and how much by CNPC. The State Committee of Statistics of Turkmenistan reported total production of 70.6 bcm in 2017. According to the State Statistics Committee, Turkmenistan produced about 11,397 million tons of oil, including gas condensate, in 2016 and 10,950 million tons in 2017. The Turkmenbashy Complex of Oil Refineries produces liquefied petroleum gas (LPG) with no official data available.
Oil & Gas:
| 2015 | 2016 | 2017 | 2018 (Estimated) | |
| Total Local Production | 71.9[1] | 69.4[2] | 70.6[3] | * |
| Total Exports[4] | 38.1 | 37.3 | 33.6 | 36 |
| Total Imports | 0 | 0 | 0 | 0 |
| Imports from the US | 0 | 0 | 0 | 0 |
| Total Market Size | 33.8 | 32.1 | 28.4 | * |
| Exchange Rates | 3.5 | 3.5 | 3.5 | 3.5 |
Leading Sub-Sectors
Modern geological exploration technologies; seismic imaging software; drilling equipment and pipes; field development equipment; well rehabilitation services; offshore production equipment and services.Opportunities
Exploration and development of oil and natural gas fields, especially Galkynysh (formerly South Yoloten), Osman, Minara, Tagtabazar-I, offshore blocks, and the Central Karakum group of fields. Construction of gas treatment and processing units at the abovementioned fields. Opportunities also exist for gas-to-liquid (GTL) technology providers as Turkmenistan is currently building two GTL plants.Web Resources
- NEBIT-GAZ (http://www.oilgas.gov.tm/en/)