State corporation «Turkmengeology» will sign a contract with «Yug-Neftegaz Private Limited» (Singapore) for exploration work to search for new oil deposits in the west of Turkmenistan.  The corresponding decree authorizing this transaction was signed by President Gurbanguly Berdimuhamedov.

 The draft resolution was presented to the head of state by Vice-Chairman of the Cabinet of Ministers Shakhim Abdrakhmanov at a government meeting held on Thursday.

 According to the decree, the contract provides for the implementation of exploration and research works by the 3D method in the eastern section of the Goturdepe field, as well as by the 2D method in the South Burun area of ​​the Balkan zone of western Turkmenistan.

 Having signed the decree, Gurbanguly Berdimuhamedov ordered to take measures to further strengthen the resource base of the oil and gas sector, to fulfill production plans by industry enterprises.

 It is also necessary to establish at the proper level services to increase the productivity of oil wells in existing fields, expand geological exploration to study areas that are promising for oil and gas, the head of state said.