Turkmenistan’s oil and gas road show was summed up in Dubai

Turkmenistan’s oil and gas road show was summed up in Dubai

During the second day of the International Conference “Oil and Gas of Turkmenistan” in Dubai, discussions were held on the current areas of investment in the Turkmen fuel and energy complex, which was attended by 300 delegates from 113 large companies.

Representatives of the Turkmennebit State Concern, the Turkmenbashy Complex of Oil Refineries and the Turkmen National Oil and Gas Company NAPECO, described in their speeches a wide range of cooperation with international partners, and proposed new solutions for Turkmen hydrocarbon supplied to world markets.

Work experience in Turkmenistan, the ongoing projects and plans for the future were presented by Yug-Neftegaz, m Schlumberger Logelco Inc, Tatneft and other companies. Their speeches covered the optimization of mature fields and new mechanisms for cooperation in investment projects.

For example, the Turkmennebit Concern has been cooperating with Yug-Neftegaz Private Limited of Singapore since 2008, when a service contract was signed for overhaul of wells. A number of additional agreements have been signed under this contract.

Since the beginning of the contract period as of January 1, 2020, the contractor has performed overhaul at 1.544 wells. As a result of geological and technical operations, the amount of additional oil extracted from these wells amounted to more than 2.5 million tons. The amount of investments over the contract period totaled 369 million US dollars.

In the current year 2020, works have been planned to increase the production capacity of Concern’s 80 oil wells, which are expected to produce 105.352 tons of additional oil, and drill 6 new wells that are predicted to provide an additional flow of 54.550 tons of oil. The amount of investments this year is planned up to 70 million US dollars.

In 2010, a service contract was signed with the Russian Public Joint-Stock Company PJSC TATNEFT to increase oil production in the existing well stock at the Goturdepe field. As of January 1, 2020, the company copleted geological and technical operations at 66 wells, with an additional amount of 201.401 tons of oil produced. The company invested 47 million US dollars to carry out these works.

After summing up the sessional meetings, Yagshigeldy Kakaev, Adviser to the President of Turkmenistan on oil and gas issues, made a closing speech. He thanked the forum participants for their interest and active work, informative presentations and the exchange of useful information, and invited all delegates to attend the next oil and gas road show in Turkmenistan to take place in London in early July, as well as the 25th Anniversary International Oil and Gas Forum in Ashgabat in October.