Turkmenistan Signs Drilling Pipes Contract With China
The Turkmenistan President, Serdar Berdimuhamedov has signed an order to permit the Turkmennebit SOE to purchase 2,309 tons of drilling pipes of various sizes from China’s King Ease company.
Türkmennebit is the national oil company of Turkmenistan, with its headquarters in Ashgabat. The main oil fields operated by Türkmennebit are Goturdepe, Barsa-gelmez, Nebitdag, Körpeje, Gamyşlyja, Çeleken and Kemer, mainly in Balkan Province near the Caspian Sea.
The purchase of the drilling pipes was made for use in the overhaul of oil and gas wells. Turkmenistan ranks among the world’s leading countries in terms of oil and gas reserves. Its gas reserves have increased by 126 billion cubic meters as a result of the industrial development of recently discovered gas fields. At the same time, the country pays great attention to the creation of oil and gas processing plants, as well as the export of energy resources to global markets.
The contract is a big win for China, in a competitive field with Russia a main player. Turkmenistan is opening up to investment and has already received trains from China arriving via Kazakhstan and Uzbekistan to connection to the INSTC rail network in neighboring Iran. Turkmenistan officially joined the INSTC last week and will be looking to access Caspian sea routes from Europe and Russia, as well as China, Uzbekistan, and India as it continues to enhance its position in global energy markets.