Turkmenistan, Ashgabat, August 3 / Trend H. Hasanov /
OJSC Tatneft and state concern Turkmenneft signed a service contract to render services to enhance oil recovery in the south-eastern sector of oilfield No 4 Goturdepeneft in western Turkmenistan.
The subject of the contract is to provide services aimed at improving oil recovery of existing wells and further use of the capacity to produce oil in Goturdepe field. Contract duration is 7 years.
The deal was concluded within President of the Republic of Tatarstan Rustam Minnikhanov's business visit to Turkmenistan. Tatneft was represented by director general Shafagat Takhautdinov.
A press release of "Tatneft" said that a company has a highly professional staff, innovative potential and experience in exploration and development of oil fields, construction and repair of wells, and advanced technologies to enhance oil recovery, which are of interest to the Turkmen side.
The protocol on cooperation in oil and gas sector was signed between Tatneft and Turkmenneft in 2008.
Turkmen TV Altyn Asyr said that Minnikhanov said that Tatarstan has a highly developed oil and gas industry and ready to offer its services to the Turkmen partners for a variety of ways, including extraction and processing of hydrocarbon resources and service work.
In his turn, Turkmen president confirmed Turkmenistan's readiness for joint activity. He expressed confidence that the successful experience of long-term cooperation in the nearest future will be further developed through new large-scale projects, including in the strategic oil and gas industry.