Turkmenistan's "Gazyk" oil and gas company ready for work in Caspian region

Oil&Gas Materials 29 May 2018 12:17 (UTC +04:00)

Ashgabat, Turkmenistan, May 29

By Huseyn Hasanov – Trend:

A licensed local oil and gas company - "Gazyk" is ready for work in the Caspian region, the company's message said.

The company's activities cover a wide range of oilfield services from engineering development to integrated services in the oil and gas industry.

The company carries out integrated project management, and is engaged in the design, drilling and construction of wells.

"We understand the cultural conditions of the domestic markets of Turkmenistan," said the company's message.

In February 2018, the Government of Turkmenistan commissioned Gazyk to carry out a major project to clean up oil-contaminated land. It is referred to the coastal zone of the Caspian Sea and adjacent area.

The main objective of the 15-year contract is to clean up the sands in places where oil has historically been discovered during drilling operations or where independent geological seepage of oil to the surface and extraction of that oil for commercial use has occurred.

For this project, the company formed a joint venture "MAVA Kenar" with the Canadian Benel Technical Services Company and the local enterprise "Hazar Balyk".

In addition, Gazyk has concluded a Memorandum of Understanding with the Japanese Corporation SBI Group, which is a leader in the market of investment banking services, financial solutions and FinTech technologies.

The increase in oil production in Turkmenistan is connected with active development of the Turkmen sector of the Caspian Sea.