Sinopec Secures Major Oil Production Gains in Turkmenistan

Sinopec, China's petrochemical corporation, has completed over $170 million worth of work in Turkmenistan. The result is a significant increase in oil production, with more than 900 thousand tons extracted so far.

According to Batyr Jumayev, Deputy Chairman of the Turkmennebit State Concern, Sinopec's high-tech work has enabled daily production to reach over 1,500 tons. The Chinese company is performing various services under a service contract, including well workovers and rehabilitation.

Turkmenistan's oil industry is benefitting from its partnership with China. In addition to the work done by Sinopec, Turkmennebit has signed contracts with other Chinese companies worth over $439 million.