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Turkmenistan to conclude additional agreement to increase flow rate of oil wells

Oil&Gas Materials 27 November 2020 10:16 (UTC +04:00)
Turkmenistan to conclude additional agreement to increase flow rate of oil wells

BAKU, Azerbaijan, November 27

By Jeila Aliyeva - Trend:

Turkmenistan’s Turkmennebit State Concern will conclude an additional agreement with Tatneft public joint-stock company of Russia’s Tatarstan on the performance of services to increase the flow rate of oil wells, Trend reports with reference to the State News Agency of Turkmenistan.

The decree authorizing the conclusion of the above-mentioned agreement was signed by the President of Turkmenistan Gurbanguly Berdimuhamedov.

According to the decree, the flow rate of oil wells will be increased at the Goturdepe oil and gas field.

As reported, Turkmenistan’s Turkmennebit State Concern is expanding its cooperation with foreign companies to improve the efficiency of traditional oil deposits and develop new ones.

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.

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Follow the author on Twitter: @JeilaAliyeva

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