The next stage of the Company's activities in Turkmenistan was the signing and implementation of the Contract No. Т5-8-З97 dd. 17.05.2011. Under this contract, 2011 to 2018 the workovers aimed at the production rate increase as well as bringing the idling well stock of the State Corporation "Turkmennebit" into operation were carried out.
On 29.11.2018 YNG PL and the State Corporation "Turkmennebit" signed a Supplementary Agreement to the Contract No. Т5-8-397dd. 17.05. 2011. The Agreement provides for the renewal of the Contract for 19 years (until 2037) and expands the range of services to be provided by the Company, which, inter alia, includes drilling of 60 vertical, directional, and horizontal wells to the depth of 4,500 ÷ 5,500 m at the North Goturdepe oil field in Turkmenistan. As of 01.01.2021, under the Contract No. T5-8-397, as calculated on a cumulative total, 1,875 well operations were performed and more than 2.93 million tons of incremental oil produced.
Having got the most advanced high-tech oilfield machinery & equipment required to meet the production challenges, nevertheless we consider our employees to be the most valuable asset. 800+ Turkmen employees are engaged by the Company in Turkmenistan. Their expertise and large practical experience in the oil & gas industry are highly appreciated by the YNG PL management team. The joint rewarding work of foreign and Turkmen experts allows us to achieve the targeted production performance figures, thus developing the oil & gas sector of the Turkmenistan economy.
