Russian companies to cooperate with Turkmenoil
Industrial Group of Russian Metallurgical Complex and Turkmen State Concern Turkmenoil (also known as Turkmennebit) signed a memorandum of commercial and scientific-technical cooperation.
The industrial group includes Chelyabinsk Pipe Rolling Plant JSC, Pervouralsky Novotrubny Works JSC, a metal trading division of Uraltrubostal Trading House, META LLC (a company that manufactures and processes scrap metal), and an oilfield service division represented by Rimera company.
A message from the industrial group shows the memorandum paves the ground for comprehensive cooperation, especially as part of the project titled "White Well".
The industrial group's project envisages comprehensive supply of oil drilling equipment and subsequent services.
Under the memorandum, industrial tests will be carried out at six wells of the Turkmenoil.
Based on the test results, the industrial group's experts will determine the most suitable oilfield equipment that shall be delivered to Turkmenoil.
They primarily include oil-well tubing, well casing, and oil pipes for various purposes.
"Turkmenistan's oil and gas reserves, with a closed type economy, exceed 70 billion tons of equivalent fuel," the message quoted managing director of the industrial group Valentin Tazetdinov as saying.
He noted that signing the memorandum can be considered a breakthrough in the industrial group's commercial services.
Turkmenoil's activities cover more than 600 oil, gas, and oil-gas deposits that are at different stages of development. Among the deposits developed recently there are the Chekishler, Garadurun, South Kamyshlydja, Nebitlije deposits, which are located in the west of the country.
During the years of Turkmenistan's independence, the concern managed to increase oil production from five million tons to eight million tons per year, and gas production up to 11,600 million cubic meters, the company reported earlier.