In accordance with the Contract No. T5-8-397, on 10/14/2021, Yug-Neftegaz Private Limited in cooperation with State Conсern «Turkmennebit» successfully completed drilling of the oil well No.327 with a depth of 4,660 m on the North Goturdepe oilfield. The well was put into operation and its oil production rate exceeded 1000 barrels per day.
For the purpose of reaching objectives set out to the "Türkmengeologiýa" State Corporation pursuant to the "Program for the Development of the Oil & Gas Industry of Turkmenistan through 2030" and following international tendering results, the President of Turkmenistan signed the Resolution authorizing "Türkmengeologiýa" State Corporation to conclude a contract with "Yug-Neftegaz Private Limited" (Singapore) for conducting 250 km2 3D seismic prospecting in the eastern section of the Goturdepe field.
Yug-Neftegaz Private Limited сarried out 1,839 well workover operations and overcame the milestone of total incremental oil production of 3,000,000 tons.
On May 12 and 13, 2021, a two-day international investment forum "Oil and Gas of Turkmenistan - 2021" was held in Ashgabat. Within the framework of the forum, representatives of Yug-Neftegaz Private Limited held a number of meetings and negotiations.
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 with a depth of 5000 m each at the North Goturdepe field.
In accordance with the Amendment Agreement to the Contract d.d. 05.17.2011 No. T5-8-397, on 05/01/2020, Yug-Neftegaz Private Limited successfully completed the drilling of first two oil wells.
To carry out the sidetracking works for operating and/or idle wells of the SC “Turkmenoil” in compliance with the Contract No. T5-8-397 d.d. 05/17/2011, Yug-Neftegaz Private Limited has delivered in Turkmenistan and commissioned 2 (two) new ZJ-15 mobile drilling rigs.
