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Tatneft Begins Rendering Services in Turkmenistan

Friday 10 February 2012

The specialists of Tatneft Company started well work over operations in the south-eastern sector of the oil production area N° 4 at NGDU Goturdepenebit.

The work is carried out by the Company’s branch in Turkmenistan within the framework of the contract between OAO Tatneft and the State Concern Turkmenneft for providing the services to enhance oil recovery.

The subject of the service contract signed between the parties is rendering of services aimed at enhancing crude oil recovery from existing wells and further use of the potential oil production from Goturdepe field. The Contract duration is 7 years.

The contract supervisor on the part of Tatneft is NGDU Elkhovneft.

Tatneft (RTS:TATNS, FWB: TTFB) is a vertically-integrated oil and gas company with headquarters in the city of Almetyevsk, in the Republic of Tatarstan. It is the sixth largest oil company in Russia. The company has more than 70’000 employees across Russia. The main shareholder is the Republic of Tatarstan through its holding company Svyazinvestneftekhim, which holds 34% of Tatneft.

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