Tatneft' : Representatives of TATNEFT Participated in the Meeting of the Russian-Saudi Working Group on Oil and Gas Cooperation

The representatives of TATNEFT Company participated in the first meeting of the Sub-Group on the Technology Cooperation of the Russian-Saudi working group in the area of oil and gas.

The event was held within the framework of the Saudi Arabian delegation visit to the Republic of Tatarstan (Kazan).

The first meeting of the Sub-Group on oil and gas cooperation was held by Kirill Molodtsov, Deputy Minister of Energy of the Russian Federation, and Nayef Al-Uteybi, Deputy Minister of Energy, Industry and Natural Resources of the Kingdom of Saudi Arabia. The meeting was also attended by the representatives of Russian research institutions and oil and gas companies: PJSC 'NC 'Rosneft', PJSC 'Gazprom Neft', PJSC 'NOVATEK', PJSC TATNEFT, PJSC 'LUKOIL', OOO 'Gazprom Georesurs'.

The main agenda of the discussions included cooperation issues of two largest oil-producing countries in the world in the application of new technologies in the oil and gas industry, including exploration and production, as well as utilization of associated gas.

Russian companies and research centers presented their engineering developments in the application of new technologies in the oil and gas industry, including the technology of stimulation and oil recovery enhancement, increasing the efficiency of mature fields' development, innovative technologies in the development of fields with hard-to-recover reserves.

In particular, the information on modern techniques and technologies applied by TATNEFT in the Company's fields was presented by Rifkhat Sakhabutdinov, Director of TatNIPIneft Institute. Rais Khisamov, Deputy General Director - Chief Geologist of the TATNEFT Company familiarized the audience with technological solutions in the area of geological studies and development of mature oil fields.

The representatives of the Saudi party made a proposal on joint manufacturing of the equipment for the oil and gas industry.

'Our key objective is the development of technological cooperation in the energy sector. It is necessary to develop a foundation for Russian and Saudi companies to implement joint projects both in Saudi Arabia and Russia,' said Kirill Molodtsov.

The working group meeting was held on the eve of Alexander Novak, Russian Ministry of Energy, visit to Saudi Arabia scheduled for October 22-23.