Itera oil and gas company focuses more on Turkmenistan
Turkmenistan, Ashgabat, March 20 / Trend H. Hasanov /
Turkmen President Gurbanguly Berdimuhamedov received the head of the Itera international group of companies Igor Makarov, the Turkmen government said today. Itera is one of the largest independent producer and seller of natural gas in Russia.
According to information received, Makarov confirmed a considerable interest by his company to expand its presence in the promising Turkmen market and discussed the implementation of major investment projects in Turkmenistan.
'The head of the holding company assured us that Itera will continue implementing partnership commitments with thoroughness', the text said.
The Turkmen leader stressed that Itera has proved itself in Turkmenistan as one of its reliable partners and confirmed a readiness to intensify cooperation with the largest company on a mutually beneficial basis.
The company previously received a major project in the Turkmen section of the Caspian Sea. The Production Sharing Agreement was signed in September 2009 naming Itera as the operator of the project.
In August 2011, the role of the operator passed to the Russian firm Zarubezhneft which has a 51 per cent stake. It signed an agreement to work jointly in the area with Itera which has a 49 per cent shareholding.