China's Sinopec Petrochemical Corporation has completed over 170 million USD worth of work in Turkmenistan, ensuring the production of over 900 thousand tons of new oil. This was announced by Batyr Jumayev, Deputy Chairman of the Turkmennebit State Concern, speaking at the Turkmen-Chinese forum in Ashgabat.

"I would like to specifically highlight the activities of our key partner, the international oilfield services company of the Chinese petrochemical corporation Sinopec," Jumayev said.

According to him, under the service contract, Sinopec is performing well workovers and rehabilitation, sidetracking, directional drilling, bottomhole stabilization, and water shutoff operations. "To date, Sinopec has completed contractual work worth over 170 million USD," the deputy head of the concern noted.

Jumayev emphasized that, thanks to the Chinese company's high-tech work, new oil production has reached more than 900 thousand tons, and daily production has reached more than 1,5 thousand tons.

The deputy chairman of Turkmennebit also reported that, in addition to cooperation with Sinopec, the concern is implementing 29 other contracts with other Chinese companies worth a total of over 439 USD million. Turkmenistan purchases modern equipment for power engineering, geophysical and oil and gas equipment, tubular products, and chemical reagents from China.