Mitro International Limited (Austria)/Turkmennebit Consortium (The Khazar Consortium)

MITRO INTERNATIONAL LIMITED (AUSTRIA)/TURKMENNEBIT CONSORTIUM
(THE KHAZAR CONSORTIUM)

Company Information
According to Turkmenistan Analytic magazine:

Mitro International was established in 2000 to operate in the oil and gas sector, particularly in deposits scanning and exploration development. The company runs a registered representative office in Turkmenistan since 2001, when Pado Oil and Chemical S.A. Corporation transferred all its contractual rights and obligations on PSA Khazar project to Mitro and the company became a full member of the long-term oil and gas project. According to the Agreement, Mitro International is 100 percent investor to Khazar contractual territory.[i]

Contact Information
Mitro International Ltd.
Ulitsa Antaliba 50/1, 3rd Floor
Ashgabat, Turkmenistan, 744000
T: +993 12 45 60 95
F: +993 12 45 60 96
E-mail: asbmitro@nullasb.mitro-int.com

Mitro International has no website on the Internet.

History in Turkmenistan
In 2000, the state concern Turkmennebit (operator) and Austria’s Mitro International Limited were awarded a PSA to develop the onshore Khazar project in western Turkmenistan.[ii]

In 2002, the consortium began a five to six year program to drill a minimum of thirty production wells at the East Cheleken field.[iii] According to one report, the consortium extracted 307,000 tons of oil in 2002, and expected to produce 400,000 tons in 2003.[iv]

In December 2007, Mitro’s CEO Boris Levenstein met with Berdymukhammedov in Ashgabat, providing him with an update on his company’s operations in Turkmenistan and expressing Mitro’s readiness to participate in the development of offshore reserves.[v] One analysis of Turkmenistan’s oil sector states that Mitro International was producing “7,000 bbl/d from the East Cheleken onshore fields” as of February 2008.[vi]

Several times over the past year, Mitro International and the state concern Turkmennebit have announced tenders for contracts as part of the PSA: a May 2010 tender for equipment,[vii] a September 2010 tender for infrastructure design and construction at its well site,[viii] and a January 2011 tender for a corporate data network.[ix]

Mitro International was a “Bronze Sponsor” of the 2010 Turkmenistan International Oil and Gas Conference.

Financial Disclosure
According to the United States’ 2008 Investment Climate Statement on Turkmenistan, Mitro had invested $225 million in Turkmenistan at that point in time.[x]

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[i] Turkmenistan Analytic (2007).

[ii] Turkmenistan Analytic (2007).

[iii] http://findarticles.com/p/articles/mi_m3159/is_1_224/ai_n27586251/pg_4?tag=artBody;col1, Accessed September 7, 2008.

[iv] Turkmenistan.ru, “Five Projects under the Way Based on Production Sharing Agreement,” 8 Apr. 2003, http://www.turkmenistan.ru/?page_id=3&lang_id=en&elem_id=4401&type=event&highlight_words=mitro&sort=date_desc.Accessed September 7, 2008.

[v] Turkmenistan.ru, “Delta and Mitro Companies Meet with Turkmen President,” 12 Jul. 2007,http://www.turkmenistan.ru/?page_id=3&lang_id=en&elem_id=10534&type=event&highlight_words=mitro&sort=date_desc. Accessed September 7, 2008.

[vi] http://www.eia.doe.gov/emeu/cabs/Centasia/Oil.html. Accessed November 16, 2008.

[vii] Trend, “Mitro International Ltd Announces Tender for Equipment in Turkmenistan,” 18 May 2010,http://en.trend.az/capital/energy/1688879.html. Accessed February 11, 2011.

[viii] H. Hasanov, “Mitro International Limited Announces Tender in Turkmenistan,” Trend Daily Economic News, 29 Sep. 2010, http://www.allbusiness.com/construction/heavy-civil-construction-road-bridge/15137637-1.html. Accessed February 11, 2011.

[ix] Trend News Agency – McClatchy – Tribune Information Services (2011).

[x] http://turkmenistan.usembassy.gov/ic_report.html. Accessed September 7, 2008.