SC «Turkmengas» will sign additional agreements with CNPC to finance projects to increase gas production and exports
14:22 01.02.2022 6120
The State concern «Turkmengas» will sign with the Chinese company «CNPC Chuanqing Drilling Engineering Company Limited» additional agreements on financing contracts aimed at increasing the production and export of Turkmen natural gas. The relevant resolution of the President of Turkmenistan, allowing the signing of additional agreements, was published in the media of the country.
The draft resolution was presented to the head of state at a government meeting last Friday by Vice-Chairman of the Cabinet of Ministers of Turkmenistan Shakhym Abdrakhmanov.
According to the document and the previously signed Decree of the President of Turkmenistan, as part of the ongoing work, it is planned to conclude additional agreements to change the terms of payment for contracts between Turkmengas and CNPC, including the supply of 16 wells of the Galkynysh gas field with chemical products and the preparation of drilling fluids , providing engineering services for their operation, equipping these wells with appropriate equipment. The amount of this contract is 372 million 273 thousand 969.95 Chinese yuan.
It is also planned to conclude additional agreements to contracts between the State Concern «Turkmengas» and «CNPC» regarding the installation of specialized equipment and the provision of related services at the fields «Galkynysh», «Garabil» and «Bagaja».
As a result, the total amount of these agreements will amount to 106 million 221 thousand 809.71 US dollars.
As the head of state emphasized, the investments of the Chinese company should be returned with raw materials received in the country.
Noting the constructive nature of interstate relations with China, President Gurbanguly Berdimuhamedov stressed that cooperation between the two countries has an impressive potential, the implementation of which meets not only mutual interests, but also the goals of the well-being of the entire region.
The Turkmen leader also noted the importance of the wide use of modern technologies in drilling new wells and developing existing fields, which play a significant role in increasing the volume of exports of Turkmen gas.
The head of state mentioned the need to further expand partnerships with large specialized companies that are interested in participating in sectoral projects being implemented in Turkmenistan.
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