Asset Report

Block 1

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12 May 2020

Block 1

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. First oil and gas were respectively in 2006 and 2011, with gross sales production of more than 100,000 boe/d in 2020 (65% gas and 35% liquids).Block 1 reserves and resources are mainly gas, centred on the Magtymguly field. Gas-condensate production has increased since 2018 thanks to commissioning of a neighbouring US$3.4 billion petrochemical plant ...

Table of contents

  • Key facts
    • Summary
    • Key issues
  • Location maps
    • PSC
      • PSC expiry
    • Operator
    • Naming convention
    • Overview
      • Structures
      • Reservoirs
    • Magtymguly
    • Garagol-Deniz
    • Diyarbekir
    • Mashrykov and Ovez
    • Hydrocarbon quality
      • Liquids
      • Gas
    • Soviet era
    • PETRONAS (1996 onwards)
      • Seismic and other studies
      • E&A drilling
    • Reserves
    • Contingent resources
    • 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)
    • Key development metrics
    • Key dates
    • Liquids
      • Initial transportation
      • Exports
    • Gas
      • Overview
      • Export routes
    • Overview
    • E&A costs
    • Capital costs
    • Operating costs
      • Field costs
      • Transportation costs
    • Liquids
      • Overview
      • Current sales
    • Gas
      • Current GSA
    • Oil royalty
    • Gas royalty
    • Cost oil
    • Profit oil
    • Profit tax
    • Signature bonus
    • Social investment programme
    • Cash flow
    • Discount rate and date
    • Inflation rate
    • Oil price
      • Future sales
      • Previous sales
    • Gas price
    • Global Economic Model (GEM) file
  • Economic analysis

Tables and charts

This report includes 30 images and tables including:

  • 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 01/01/2021
  • Remaining Revenue Distribution (Discounted at 10% from 01/01/2021)
  • Remaining Present Value Price Sensitivities
  • Participation: Table 1
  • Geology: Table 1
  • Geology: Table 2
  • Geology: Table 3
  • Geology: Table 4
  • Geology: Table 5
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Costs: Table 1
  • Costs: Table 2
  • Fiscal and regulatory: Table 1
  • Fiscal and regulatory: Table 2
  • Geology: Table 6
  • Production: Table 1
  • Production: Table 2
  • Block 1 production profile
  • Infrastructure: Table 1
  • Costs: Table 3

What's included

This report contains:

  • Document

    Block 1

    PDF 2.73 MB

  • Document

    Block 1

    XLS 571.00 KB