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Turkmennebit expanding co-op with foreign companies to develop new oil deposits

Oil&Gas Materials 29 July 2020 11:52
Turkmennebit expanding co-op with foreign companies to develop new oil deposits

BAKU, Azerbaijan, July 29

By Jeila Aliyeva - Trend:

Turkmenistan’s Turkmennebit State Concern is expanding its cooperation with foreign companies to improve the efficiency of traditional oil deposits and develop new ones, Trend reports with reference to Turkmenportal information portal.

The cooperation is expanding with foreign companies in the field of high-tech services, which allows to significantly increase the level of oil production in Turkmenistan.

Taking into account the contribution of foreign partners, since the beginning of the year, in accordance with the production sharing agreement, more than 4.8 million tons of oil have been extracted. Of this amount, over 1.9 million tons of oil were produced by Turkmennebit.

Many foreign companies work in the oil and gas sector of Turkmenistan. Companies such as China national oil and gas Corporation (CNPC), Dragon oil (UAE), Petronas (Malaysia), Eni (Italy), Mitro International (Austria) and others are working in the country in the field of exploration and development of deposits.

As it was reported earlier, Turkmenistan produced a significant amount of oil in 1H2020.

In 1H2020, the plan for oil and gas condensate production was exceeded by 7.6 percent, oil refining - by 2.6 percent, gasoline production – by 5.1 percent, diesel fuel – by 5.1 percent. The growth rate of liquefied gas production was exceeded by 12.2 percent.

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Follow the author on Twitter: @JeilaAliyeva

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