OREANDA-NEWS. November 29, 2010. TATNEFT will open a Branch Office in the Turkmen city of Balkanabad (former Nebit-Dag, located 400 km north-west of Ashgabat), reported the press-centre of Tatneft.

Opening of the Branch Office in the Republic of Turkmenistan is connected with the execution of the Service Rendering Contract between TATNEFT and Turkmenneft State Concern, which came into force on November 3 of this year. The subject of the contract signed by the Parties is to provide services aimed at improving oil recovery of existing wells and further use of the oil production potential at Goturdepe oil field.

The Turkmen Party is interested in the innovational potential of Tatneft, its experience in developing oil fields, well workover and advanced technologies of oil recovery enhancement.

NGDU Yelkhovneft will act as a supervisor of the contract on behalf of TATNEFT. Currently, the work is on the way for registration of the Branch Office of the Company.

Information reference.
The Service Contract between TATNEFT and Turkmenneft State Concern was signed in August 2010 in the framework of a business visit of Rustam Minnikhanov, President of the Republic of Tatarstan, to the Republic of Turkmenistan.

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