Asset Report
Block 1
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
PETRONAS operates the Block 1 offshore PSC in the Turkmen sector of the Caspian Sea. The contract includes five oil and gas-condensate fields. Block 1 reserves and resources are mainly gas, centred on the Magtymguly field. In 2025, average sales production is approximately 90,000 boe/d. About 80% is gas and the remainder liquids (oil and condensate). First oil and gas were respectively in 2006 and 2011. The development involves multiple fixed offshore platforms and a large-scale onshore ...
Table of contents
- Key facts
-
Summary and key issues
- Summary
- Key issues
- Location maps
-
Participation
-
PSC
- Overview
- Initial PSC
- Operator
-
PSC
-
Geology
- Naming convention
-
Overview
- Structures
- Reservoirs
- Magtymguly
- Garagol-Deniz
- Diyarbekir
- Mashrykov and Ovez
-
Hydrocarbon quality
- Liquids
- Gas
-
Exploration
- Soviet era
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PETRONAS (1996 onwards)
- Seismic and other studies
- MoU for five offshore exploration blocks
- E&A drilling
-
Reserves and resources
- Reserves
- Contingent resources
-
Production
-
Oil-led phases
- Diyarbekir early oil (2006-15)
- Oil expansion (2015 onwards)
-
Gas-led phases
- Phase 1 gas (2011 onwards)
- Gas delivery to Kiyanly petrochemical plant (2018 onwards)
-
Emissions
- Overview
- Operator's corporate strategy
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Oil-led phases
-
Development
- Key development metrics
- Key dates
-
Infrastructure
-
Liquids
- Initial transportation
- Exports
-
Gas
- Overview
- Export routes
-
Liquids
-
Costs
- Overview
- E&A costs
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Operating costs
- Transportation costs
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Sales contracts
-
Liquids
- Overview
- Current sales
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Gas
- Current GSA
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Liquids
- 3 more item(s)...
Tables and charts
This report includes the following images and tables:
- Key facts: Table 1
- Index map
- Block 1 map
- Exploration: Table 1
- Cash Flow
- Economic analysis: Table 2
- Economic analysis: Table 3
- Split of Revenues
- Cumulative Net Cash Flow - Undiscounted
- Cumulative Net Cash Flow - Discounted at 10% from 01/01/2025
- Remaining Revenue Distribution (Discounted at 10% from 01/01/2025)
- Remaining Present Value Price Sensitivities
- 19 more item(s)...
What's included
This report contains:
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