Tatneft Has Registered Branch Office in the Republic of Turkmenistan

The branch office of TATNEFT will perform works related to the execution of the contract between OAO TATNEFT and State Concern Turkmenneft to provide services in the southeastern area of oilfield No. 4 of NGDU Goturdepenebit of Turkmenneft, which came into force on November 3, 2010.
The subject of the contract signed by the Parties presumes provision of services aimed at oil recovery enhancement of the existing well stock and the subsequent formation of the potential for oil production at Goturdepe oilfield.
In the framework of cooperation of OAO TATNEFT with the State concern Turkmenneft a production program for the first year of the contract execution has been developed and coordinated and the budget has been approved for operation of OAO Tatneft branch office in Turkmenistan in 2011.
NGDU Yelkhovneft has been appointed as a contract supervisor on behalf of TATNEFT.
A service contract between OAO TATNEFT and the State Concern Turkmenneft was signed in August 2010 as part of a business visit of Rustam Minnikhanov, President of the Republic of Tatarstan, to the Republic of Turkmenistan.
The Protocol on cooperation in the oil and gas sector between OAO TATNEFT and the State Concern Turkmenneft was signed in 2008.