MEPTI to Start Drilling in Turkmenistan

ExxonMobil subsidiary, Mobil Exploration and Production Turkmenistan Inc. (MEPTI), will start drilling a new onshore oil exploration well in western Turkmenistan in September. The well is on the Cheleken prospect, approximately 3 miles inland from the Caspian coast. MEPTI is drilling it as operator of the Garashsyzlyk-2 Production Sharing Agreement. MEPTI holds a 52.4 percent interest in the PSA, with a subsidiary of Britain's Monument holding 27.6 percent and Turkmen state company Turkmenneft owning the remaining 20 percent.