OREANDA-NEWS. August 06, 2010. OAO TATNEFT and the State Concern Turkmenneft concluded a service contract in the framework of a business visit of Rustam Minnikhanov, President of the Republic of Tatarstan, to the Republic of Turkmenistan, reported the press-centre of TATNEFT.

Ilshat Fardiev, Deputy Prime Minister of the Republic of Tatarstan - Minister of Energy of the Republic of Tatarstan, Zilya Valeeva, Deputy Prime Minister of the Republic of Tatarstan - Minister of Culture, Ravil Zaripov, Minister of Industry and Trade of the Republic of Tatarstan, and the heads of industrial enterprises of the Republic visited Turkmenistan as part of the expanded delegation. OAO TATNEFT was presented by Shafagat Takhautdinov, General Director of the Company.

During the visit the issues of trade and economic, scientific/technical and cultural relations between the Republics were discussed. OAO TATNEFT and State Concern Turkmenneft signed a service contract to provide services for enhancement of oil recovery in the south-eastern sector of production area No. 4 of NGDU Goturdepeneft of GK Turkmenneft.

The subject of the contract signed by the Parties provides for rendering services aimed at improving oil recovery of the existing wells stock and further utilization of the capacity to produce crude oil at Goturdepe field. The Contract duration is 7 years.

OAO TATNEFT possesses highly professional staff, innovative potential and experience in exploration and development of oil fields, construction and workover of wells, as well as advanced technologies of enhanced oil recovery, which are of interest to the Turkmen side. All this opens up broad prospects for mutually beneficial cooperation.

Information reference
Relations between the Republic of Tatarstan and the Republic of Turkmenistan have been expanding and strengthening in the framework of trade and economic, scientific/technical and cultural cooperation, which began with signing the Agreement between the Republic of Tatarstan and the Republic of Turkmenistan in 2008 during a visit of Rustam Minnikhanov, as Prime Minister of the Republic of Tatarstan at that time, to Turkmenistan.

The Protocol on cooperation in the oil and gas sector between OAO TATNEFT and the State Concern Turkmenneft was also signed in 2008.