OREANDA-NEWS. December 02, 2013. ITERA is the permanent participant in this annual exhibition and conference. This year, they hosted about 700 delegates from 40 countries of the world. Representatives of the Company were involved in key sessions of the Conference. The ITERA IGC exposition stand demonstrated its ongoing and planned projects in Turkmenistan.

Today, ITERA IGC is developing a marine hydrocarbons production Project. It is in the Offshore Block 21 in the Turkmen sector of the Caspian Sea. According to the processed 2D/3D shooting data resulting from exploratory work accomplished in 2012-2013, the estimated recoverable reserves of the Block are about 800 billion cu m of natural gas and 95.5 million tons of liquid hydrocarbons. ITERA IGC plans to commence drilling the first exploratory well in the shelf zone in 2014. The sea is 7 meters deep at the site, while the expected drilling depth may reach seven kilometers. The Company assessed the total installed cost of the Project at US\\$6 billion.

ITERA International Group of Companies (ITERA IGC) is a transnational industrial holding. Igor Makarov (Russia) is its main owner. ITERA IGC was established in 1992. Nowadays, it includes dozens of enterprises in the CIS, the Baltic States, Western Europe, Asia and the USA. ITERA is specializing in investing in oil and gas industries. Strategic business areas of the Group also include power generation, gas processing, engineering and development.