Russia's Areti has signed a memorandum of understanding with Turkmenistan’s state-owned Turkmenneft about getting involved in the Uzynada discovery in the Caspian Sea, writes Vladimir Afanasiev.
According to a statement released on Turkmenistan's official oil and gas web portal, Turkmenneft and privately owned Areti have agreed to discuss terms of a service contract to develop the asset.
Turkmenneft said it will release geological information on the field — including drilling results from the discovery well — to Areti so the Russian company can formulate its proposals for taking a stake in the field.
