Ashgabat, Turkmenistan, June 24
By Huseyn Hasanov– Trend:
Turkmenistan's State Concern Turkmenneft has signed a memorandum of understanding with Russian public joint stock company Tatneft, Trend reports via Turkmen media.
The signing took place within the framework of the visit of the President of Turkmenistan Gurbanguly Berdimuhamedov to Kazan, the capital of Russia's Tatarstan Republic.
During the talks, it was noted that economic reforms in Turkmenistan involve, above all, the diversification of industry, creation of new sectors and production of high-quality export-oriented products of a wide range.
"In this regard, there are great opportunities for partnership with Tatneft in the field of oil production and refining, the petrochemical industry," the Turkmenistan State News Agency reported.
Earlier it was reported that Tatneft plans to conclude an additional agreement with the Turkmennebit state oil concern on enhancing oil recovery of the Goturdepe field in the west of Turkmenistan.
In addition, the parties considered the possibility of creating a plant for the repair of oilfield equipment.
"In case of further expansion to the entire Goturdepe field upon signing an additional agreement ... investments will amount to more than $200 million," Deputy Head of the Department for the Implementation of Oil and Gas Projects outside Tatneft Rafael Afletonov said, Tatar-inform news agency reports.
The company has been operating in Turkmenistan since 2010. Over the years of the contract’s execution, 63 overhauls were carried out at 40 wells, and pumping equipment was introduced at 32 wells.
The maximum average daily oil increment was 150 tons. All wells were equipped with a debit metering device and automation tools, which allow monitoring the operation of underground equipment around the clock. Due to these measures, over 190,000 tons of additional oil was produced.
During the implementation of the contract, the Russian company provided services and delivered materials and equipment to Turkmenistan in the amount of $32 million.
Tatneft is one of the biggest Russian oil companies, an internationally recognized vertically integrated holding.
About 10 million tons of raw materials are produced annually in Turkmenistan. A significant share of raw materials is processed within the country.