December 29, 2020: Oil wells’ drilling (Turkmenistan)

Oil wells’ drilling (Turkmenistan)

By the end of 2020, in accordance with the Amendment Agreement to the Contract No. T5-8-397 d.d. 05.17.2011, Yug-Neftegaz Private Limited has successfully completed drilling of six oil wells (No. 250, No. 315, No. 316, No. 317, No. 319, and No. 332) with a depth of 5000 m each at the North Goturdepe field. As a result of the drilling an industrial oil encroachment rate was produced in all the wells. Despite the difficulties caused by the COVID-19 pandemic, our Company has been continuing to increase the scope of its drilling operations. Drilling has been currently underway on 4 more wells of this field. In total, by the end of 2021, the Company plans to drill 9 wells with a depth of 4750 ÷ 5000 meters at the North Goturdepe field.