“Tatneft” to extend operations in Turkmenistan until 2028

“Tatneft” to extend operations in Turkmenistan until 2028

The Russian oil company “Tatneft” will extend the contract with the state Concern “Turkmennebit” for the performance of services to increase the flow rate of oil wells at the Goturdepe oil and gas field for 8 years. The relevant Decree was signed today by President of Turkmenistan Gurbanguly Berdimuhamedov, allowing the state Concern "Turkmennebit" to conclude an additional agreement to the contract with the public joint stock company "Tatneft" of the Republic of Tatarstan (Russian Federation) in accordance with the established procedure.

Headquartered in Almetyevsk, Tatarstan, “Tatneft” is one of the largest Russian public companies with a market capitalization of more than us $ 28 billion at the end of 2019. In terms of oil production, it ranks fifth in Russia.

The branch of PJSC “Tatneft” was registered in Turkmenistan in January 2011. The main field of activity of the branch is carrying out major repairs of wells, organization of reservoir pressure maintenance system, implementation of automation systems at oil production facilities.

According to the contract signed in 2010 between “Tatneft” and the state concern “Turkmennebit”, the company provides services for major well repairs and enhanced oil recovery at the Goturdepe field. 

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