China is investing $106 million to service 16 Turkmen wells. Turkmenistan to repay debt with gas

At a meeting of the Cabinet of Ministers on January 28, Deputy Prime Minister Shahym Abdrakhmanov , who oversees the oil and gas industry, reported on the state of affairs in the fuel and energy complex, the state information agency TDH reports .

The official said that it is planned to conclude additional agreements to change the terms of payment for contracts between the Türkmengaz State Concern and CNPC (China), including the supply of 16 wells of the Galkynysh gas field with chemical products and the preparation of drilling fluids, the provision of engineering services for their operation. , equipping wells with equipment. The contract amount is 372,273,969.95 Chinese yuan ($58.53 million).

It is also planned to conclude additional agreements to contracts between Türkmengaz and CNPC regarding the installation of specialized equipment and the provision of related services at the Galkynys, Garabil and Bagaja fields.

The total amount of these agreements will be $106,221,809.71, TDH reports.

President Gurbanguly Berdimuhamedov noted the importance of using modern technologies when drilling new wells and signed the relevant Decree.

The head of state stressed that investments should be returned with raw materials received in the country .

In August last year, Gurbanguly Berdimuhamedov launched the construction of wells at the Galkynysh field. The State Concern "Turkmengaz" signed a contract for these works with CNPC, the project implementation period is 2.5 years, payment will be made through the supply of natural gas to China for three years. In July, TDH reported that the construction of these wells had been started but not fully completed by UAE Gulf Oil & Gas FZE.

Then the president said that 40 billion cubic meters of “blue fuel” are being supplied to China, and in accordance with the agreement, it is planned to supply 65 billion cubic meters of gas.

Source: Chronicles of Turkmenistan