Russia’s Tatneft to expand activities in Turkmenistan

Oil&Gas Materials 27 May 2019 15:58 (UTC +04:00)

Ashgabat, Turkmenistan, May 27

By Huseyn Hasanov – Trend:

Russia’s Tatneft, based in Russia’s Republic of Tatarstan, plans to conclude an additional agreement with Turkmenistan’s Turkmennebit State Concern on increasing oil recovery of the Goturdepe deposit in western Turkmenistan, representative from Tatneft Rafael Afletonov said, Trend reports referring to Russian media.

In case of further expansion to the entire Goturdepe deposit, the investment will (upon signing of an additional agreement) amount to more than $200 million, and more than 400 citizens of Turkmenistan will be admitted to the branch, the words of the representative are given in the information.

It is also reported that the company has been operating in Turkmenistan since 2010. Over the 7 years of the contract execution, overhaul was carried out at 40 wells, and pumping equipment was provided for 32 wells. At the same time, the maximum average daily oil increment was 150 tons per day.

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, services were provided and equipment was delivered to Turkmenistan in the amount of $32 million," Afletonov said.

In addition, the parties are considering the possibility of creating a production for the repair of oilfield equipment.

Tatneft is one of Russia’s largest oil companies and is an internationally recognized holding.