1. International Conference Oil and Gas of Turkmenistan 2003 Future of International Cooperation Involving Modern Technologies Ashgabat, September 25-26, 2003 Speaker: Brooks Frazier, Business Services Manager, RРI

2. Projected Drilling Activity  Overall, 160 oil-gas fields, have been discovered, both on and off-shore.  To achieve the planned oil and gas production level in the period from 2001 to 2010, Turkmenneft and Turkmengaz plan to drill about 1,000 development and 400 exploratory wells.  Of these wells, there will be a push to drill a good number of deep wells, (below 5,000 meters).  Presently, 80 rigs are presently working onshore in Turkmenistan, 30 drilling rigs in oil industry and 50 drilling rigs in gas industry.

3. Forward Planning Goals  Turkmenistan is ranked with the countries in the world owing the most gas reserves.  In 2002 Turkmenistan produced a total of 9.01 million tons of oil and gas condensate, up 12.4% versus 2001.  MOG strategy calls for production of oil and gas condensate to rise to 28 million tons by 2005 and to 48 million tons by 2010. In the gas sector, the plan calls for 85 bcm per year production by 2005, and 120 billion cubic meters by 2010.  The MOG stated that they hope to attract more than US $25 billion in investments in the oil and gas sector up to 2020.

4. International Conference Oil and Gas of Turkmenistan 2003 Future of International Cooperation Involving Modern Technologies Ashgabat, September 25-26, 2003 Speaker: Brooks Frazier, Business Services Manager, RРI