Yug-Neftegaz Private Limited — Silver Partner of the 28th International Conference and Exhibition "Oil and Gas of Turkmenistan" (OGT 2023)19.09.2023 | 16:37 |
The 28th International Conference and Exhibition "Oil and Gas of Turkmenistan" will be held on October 25-27, 2023 in Ashgabat at the Chamber of Commerce and Industry of Turkmenistan. The upcoming event is not for the first year an arena for exchanging views, strengthening partnerships and developing strategies.
The OGT 2023 program will focus on discussing such issues as the future of energy, investment opportunities of the Turkmen oil and gas sector; green energy, environmental aspects of hydrocarbon development; technological innovations and the role of human capital in a successful energy transition. To date, more than 180 delegates from 23 countries have registered to attend OGT 2023. Authoritative speakers representing major energy companies and organizations, including Gary Jones, Regional President of BP in Azerbaijan, Georgia and Turkey, Medhat M. Kamal, President of SPE (Society of Petroleum Engineers), Kadri Simson European Commissioner for Energy, Elena Akoltseva, President of Baker Hughes in Russia and CIS, Stefan Germain, President of GHG Sat, Jasper Pages, Vice President of ADNOC and heads of other international organizations and energy companies, confirmed their speeches.
Yug-Neftegaz Private Limited (Singapore) is the Silver Partner of this prestigious International Forum OGT 2023.
The Company's principal activities in Turkmenistan include exploration and development of hydrocarbon licenses and blocks, refining and trading of petroleum products, performing field geophysical surveys, drilling oil and gas wells, leasing drilling equipment, well workover and production stimulation, construction and modernization of oil and gas infrastructure, processing and interpretation of seismic data.
The Company's competitive advantage in the oil and gas services market is ensured by the availability of highly qualified personnel, modern high-tech equipment, regular introduction of new advanced technologies and global experience in the oil and gas industry into the production process.
Yug-Neftegaz Private Limited has been carrying out its activities in Turkmenistan for 16 years, starting with a pilot project in 2007 for Turkmennebit Group of Companies on well workover and rehabilitation of idle wells.
In 2008, following the opening of the branch office of Yug-Neftegaz Private Limited in Turkmenistan in Ashgabat, a contract was signed and work began on well workover and stimulation of hydrocarbon production for Turkmennebit during 2008-2011. During 2011-2023 a number of additional contracts were signed with Turkmennebit for well workover and rehabilitation of idle wells. Seeing Yug-Neftegaz Private Limited as a reliable and responsible partner, in 2018. In 2018, Turkmennebit decided to extend the Contract for well workover operations and rehabilitation of idle wells until 2037 with the expansion of the range of services provided in terms of drilling 60 new wells in the North Goturdepe field. In 2019, under the updated terms of the Contract, drilling of the first 4 new wells in the North Goturdepe field commenced. During 2020-2023, the Company successfully completed drilling and commissioned 22 oil wells with depths ranging from 4,500 to 5,500 meters in the North Goturdepe field. The plans for the next years include drilling about 10-12 wells per year. By the end of 2022, under the current contract, the Company carried out 2133 well operations and produced more than 3.8 million tons of new oil.
In 2014, the Company signed a Contract with Turkmengeologiya State Corporation to perform 3D seismic in the North Goturdepe and Barsa-Gelmes fields and 2D seismic in the Darja Peninsula area and started performing the relevant work. In 2019. "Yug-Neftegaz Private Limited" has successfully performed the entire range of geophysical works under the Contract with "Turkmengeologiya" and defended the report on 3D seismic survey (3D) of North Goturdepe and Barsa-Gelmes fields, as well as 2D seismic survey (2D) in the Darja Peninsula area.
In 2020, Yug-Neftegaz Private Limited won the tender held by the State Corporation "Turkmengeologiya" to conduct 2D and 3D seismic survey in western Turkmenistan, then, a little later, on the margins of the XXVI International Conference "Oil and Gas of Turkmenistan-2021" held on October 27-28 in Ashgabat, the State Corporation "Turkmengeologiya" and "Yug-Neftegaz Private Limited" signed a contract for 3D and 2D studies in the eastern part of the Goturdepe oil and gas field and in the area of South Burun in western Turkmenistan. The objectives of the contract are to increase geological resources of hydrocarbons and oil production in Turkmenistan, as well as to expand opportunities for cooperation in the oil and gas sector with foreign investors.
To date, the Company is negotiating with Turkmengaz State Corporation to implement a comprehensive investment project to increase natural gas production in Turkmenistan's fields with low reservoir pressure. The future Project envisages overhaul of gas and gas condensate wells, as well as installation of mobile booster compressor units of the Company in order to increase the productivity of gas wells. A team of the Company's specialists traveled to the fields of Turkmengaz State Corporation during 2021-2022, familiarized themselves with the current situation and is currently preparing a feasibility study and business plan to increase natural gas production in Turkmenistan.
In the period of 2021-2022. The Company started implementation of the Contract for supply of 150 thousand tons of oil for processing into oil products at Turkmenbashi KNPZ. Following the successful implementation of this Contract, a new Contract was signed in 2022 for the supply and processing of an additional 200 thousand tons of oil.
Turkmenistan is a leader in the oil and gas sector projects implemented by the Company in various regions of the world. In addition to working in Turkmenistan, Yug-Neftegaz Private Limited is active in North Africa and is the operator of the Araifa block (Tunisia), where the Company has carried out 655 square kilometers of 3D seismic surveys. Currently, the Company has drilled two wells and is preparing to drill a third well on this license block. In addition to the Araifa block, Yug-Neftegaz Private Limited is also the operator of the Nefzoura block in Tunisia, where it has already carried out field seismic surveys and is currently processing and interpreting the acquired data with the subsequent placement of new wells for drilling.
More information can be found on the event website: https://www.ogt-turkmenistan.com/en.