Tatneft PJSC may participate in exploration of Turkmen sector of the Caspian Sea

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Tatneft PJSC may participate in exploration of Turkmen sector of the Caspian Sea

Tatneft PJSC has a perspective to participate in exploration of offshore fields of Turkmen sector of the Caspian Sea. It was informed to the journalists by the press office of President of Tatarstan of the Russian Federation Rustam Minnikhanov by the outcomes of his meeting with Deputy Chairman of the Cabinet of Ministers, Chairman of the Supreme Control Chamber of Turkmenistan Serdar Berdimuhamedov on Friday.

“Drilling and development of new oil wells, construction of digital geological an hydrodynamic models of oil fields of Turkmenistan, organization of facilities for maintenance of drilling equipment (centrifugal pump systems, drill bits, drilling pipes, diagnostic of suction booms and other), participation of exploration works in offshore fields of Turkmen section of the Caspian Sea and other are perspective projects for development of cooperation between Tatneft PJSC and the State Concern Turkmenneft for the coming period”, - the message says.

Cooperation between Tatneft PJSC and Turkmenistan is continued since 2008. The facility for maintenance of used pump and compressor pipes has been opened in the branch of Tatneft on January 25, 2021.

President of Tatrstan Rustam Minnikhanov has informed in the interview given to the TASS in December 2020 that Tatneft works successfully of service contract aimed at increment of oil production in Turkmenistan. Implementation of the complex of activities at two oil fields of the SC Turkmenneft allowed producing more than 280,000 tons of oil. According to the forecast, expansion of the scope of the project would allow producing additional 770,000 tons of oil.

In the beginning of last December, Tatneft and the State Concern of Turkmenistan Turkmenneft have signed an additional agreement on continuation of works at Goturdepe deposit until 2028. The agreement expands cooperation of the companies in increment of oil production of the layers. According to the agreement, the scope of works will include the first, second and third oil deposits of Goturdepe Oil and Gas Production Department in addition to those, at which Tatneft implemented its technologies in 2011 – 2014 and 2018 – 2020. Initially, partners have signed the Memorandum on Partnership at the fields of Turkmenneft in 2018.

The Republic of Tatarstan, Russian Federation is the main shareholders of Tatneft. More than 36% of the shares belong to it. Around 3% belong to treasury bonds, 25.75 percent are placed in ADR. Other shareholders have 34% percent of the stock.

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