Tatneft Targets Oil Exploration in Caspian Sea’s Turkmen Sector

BUSINESS TURKMENISTAN
Tatneft Targets Oil Exploration in Caspian Sea’s Turkmen Sector
Meeting between the Vice-Premier of Turkmenistan Serdar Berdimuhamedov and the President of Tatarstan Rustam Minnikhanov (Photo: the Press Service of the President of Tatarstan)

Tatneft, one of the largest Russian oil companies, may take part in exploration in the offshore fields of the Turkmen sector of the Caspian Sea, the Moscow-based TASS news agency reported on Friday with reference to the Press Service of the President of the Republic of Tatarstan Rustam Minnikhanov following his meeting with the Vice-Premier, Chairman of the Supreme Control Chamber of Turkmenistan Serdar Berdimuhamedov.

Promising projects for the development of cooperation between Tatneft and the Türkmennebit (Turkmen Oil) State Concern for the near future are the drilling and construction of new oil wells, the construction of digital geological and hydrodynamic models of oil fields in Turkmenistan, the launching of production facility for the repair of oilfield equipment, and participation in exploration work on the offshore fields of the Turkmen sector of the Caspian Sea, according to the report.

At the end of the meeting, President of Tatarstan Rustam Minnikhanov presented the Vice-Premier of Turkmenistan Serdar Berdimuhamedov with the medal “100 years of the formation of the Tatar Autonomous Soviet Socialist Republic”, the state award of the Republic of Tatarstan.

Tatneft has been operating in Turkmenistan since 2008. On January 25, 2021, Tatneft launched its site for the repair of tubing pipes in Turkmenistan’s city of Balkanabat.

Last December, Tatneft and Türkmennebit signed an additional agreement to continue provision of services to increase the flow rate of oil wells in the Goturdepe field until 2028.