Turkmen Turkmengas to sign contract with China's CNPC to com...| MENAFN.COM

Monday, 24 January 2022 10:28 GMT

Turkmen Turkmengas to sign contract with China's CNPC to complete construction of wells

(MENAFN- Trend News Agency ) Chinese company CNPC Chuanqing Drilling Engineering Company Limited will provide services for the completion and commissioning of three wells at the Galkynysh gas field, the world's second-largest gas field located in Turkmenistan's Mary velayat, Trend reports citing Business Turkmenistan .

During a Cabinet of Ministers meeting held online on Friday, Vice-Premier Shahym Abdrakhmanov reported to President of Turkmenistan Gurbanguly Berdimuhamedov a draft Resolution on completion of the construction of gas wells in the Galkynyş gas field, the country's official media reports.

According to the document, as part of the ongoing work on the stage-by-stage development of the field, Türkmengaz (Turkmen Gas) State Concern will sign a contract with the Chinese company to provide services for the completion of construction and commissioning of three complex wells.

The works will last 30 months and the payment for the company's services will be carried out at the expense of natural gas supplies to China, according to the report.

The construction of the wells was started by the UAE-based Gulf Oil & Gas FZE, but were not fully completed.

Following the report, President Gurbanguly Berdimuhamedov stressed the importance of the practical implementation of the agreements reached during a telephone conversation with President of China Xi Jinping in May this year, as well as during the recent official visit of Chinese Foreign Minister Wang Yi.

Signing the Resolution on the completion of the wells, the Head of State addressed a number of specific instructions to the Vice-Premier.

In a government meeting in mid-June, the Vice-Premier Shahym Abdrakhmanov reported that the CNPC won a tender for the construction of new wells in the Galkynyş field. The project is designed for 30 months, and payment for the company's services will be carried out at the expense of the annual supply of 17 billion cubic meters of natural gas to China over three years.


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