Project in Turkmenistan gets investment from Singapore's Yug-Neftegaz Private
ASHGABAT, Turkmenistan, Feb. 27
By Huseyn Hasanov – Trend:
Yug-Neftegaz Private Limited company of Singapore, is investing $70 million in a project in Turkmenistan in 2020, Trend reports referring to the Turkmennebit State Concern on Feb. 27.
Yug-Neftegaz Private operates in the country under a contract with Turkmennebit on the implementation of maintenance work on the overhaul of wells in western Turkmenistan, signed in 2008.
At the beginning of 2020, the contractor made overhaul at 1,544 wells. As a result, the additional oil production from these wells amounted to over 2.5 million tons.
The company's investment in the project amounted to $369 million. Work to increase the productivity of 80 oil wells of the Turkmennebit State Concern is planned in 2020. Within the framework of this work, it is expected to produce more than 105,300 tons of additional oil.
In addition, 6 new wells, to produce more than 54,500 tons of oil, will be drilled.
Yug-Neftegaz planned to drill at least 60 wells at the North Goturdepe field in western Turkmenistan, which will significantly increase production in the oil field. This field has been in operation for a long time.
Yug-Neftegaz carries out work to increase oil and gas recovery, as well as to intensify hydrocarbon production in the fields of the western region of Turkmenistan.
In particular, this is a major overhaul of wells at the fields of Goturdepe, Barsagelmes, Keimir, South Kamyshlydzha.