Turkmengaz and CNPC to sign agreements worth over $ 106 million
Turkmengaz State Concern and Chinese company CNPC Chuanqing Drilling Engineering will sign additional financing agreements for previous service contracts.
The new agreements cover more than $ 106.2 million worth of work. Return on investment is made through the supply of fuel.
Deputy Prime Minister of Turkmenistan TEK Shakhim Abdrakhmanov reported on the preparation of these documents at a meeting of the Cabinet of Ministers of Turkmenistan on Friday.
President Gurbanguly Berdimuhamedov endorsed the decision and signed the relevant resolution, noting the need for constant modernization of the country's oil and gas industry and the introduction of advanced technologies in the development of fields to increase Turkmen gas exports.
In August 2021, the construction of three additional wells at the Galkynysh field was started, and the CNPC plans to complete the project by 2022.
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