State Concern “Turkmenneft” and international group of companies ARETI signed a memorandum of understanding

A meeting of the heads of the Turkmenneft state concern and the international group of companies ARETI (with the head office in Geneva) was held at the office of the oil and gas complex of Turkmenistan at which the prospects for bilateral cooperation in the fuel and energy sector were discussed.

Following the meeting, the parties signed a memorandum of understanding, which defines the vectors of development of bilateral partnership in the development of oil and gas fields in the Turkmen sector of the Caspian Sea.

As the head of the company, Igor Makarov, told reporters, ARETI intends to participate in the development of the Uzynada deposit, providing services. During the year, the company will study the data on Uzynad prepared by the Turkmen side and will negotiate a final contract.