Tatneft extends contract with Turkmenneft on oil wells
Ashgabat, Turkmenistan, July 12
By Huseyn Hasanov – Trend:
The “Turkmenneft” state concern and the Russia's “Tatneft” signed an additional agreement to extend the contract to increase the productivity of oil wells in Turkmenistan, the Turkmen government said in a message.
As a result of repairing 38 wells and introduction of new technologies and equipment, additional oil has been obtained. About 10 million tons of oil are produced annually in Turkmenistan. A significant portion of the raw material is processed internally.
Shortly before the deal was concluded, President of Turkmenistan Gurbanguly Berdimuhamedow had a meeting in Avaza city with the general director of "Tatneft" Nail Maganov.
Exchange of views on the prospects for cooperation also took place.
The company's message also noted that the talks reveal good possibilities for the exchange of best practices, including in the areas of hydrocarbon production, oil and gas processing and petrochemical industry, creates favorable conditions for the effective addition of efforts, access to new joint projects.
The Russian company was interested in providing services in Turkmenistan for the restoration of oil wells, the supply of oilfield equipment, chemical reagents, base oils and tire products, said earlier reports.