News

February 12, 2009

Latest Reserves Update From Dragon Oil Reaffirms the Great Potential of Turkmenistan

The latest reserves update from Dragon Oil, which is focused on Turkmenistan in Central Asia bordering the Caspian Sea, does not tell us very much new, save strongly to reaffirm that there is great potential for oil and gas explorers and producers who want to venture into this little known hydrocarbon province.

Turkmenistan is strange place. Although it is thought to hold the world’s fourth largest gas reserves after the US/Canada, Russia and Iran, and a company like Burren Energy, which was taken over by ENI early in 2008, used this former Soviet colony as a cornerstone to build its fortune by discovering oil there, investors have, by and large fought shy of this sparsely populated desert country because it seems too remote. It is on the wrong side of the Caspian Sea, and apart from Russia, which of...