TATNEFT : and Turkmennebit Extended the Cooperation

TATNEFT Company and the State Concern of Turkmenistan 'Turkmennebit' signed a supplementary agreement to continue work at the Goturdepe field.

The new document was signed by Nail Maganov, General Director of TATNEFT, and Guichgeldi Baigeldiev, Chairman of the Turkmennebit State Concern.

The supplementary agreement extended the time limit until 2028 and would expand cooperation between the companies in the area of enhanced oil recovery.

The work program includes the first, the second and the third oil fields of NGDU 'Goturdenebit' in addition to those where TATNEFT had been introducing the Company's technologies from 2011 to 2014 and from 2018 to 2020.

TATNEFT and SC Turkmennebit signed a Memorandum of Understanding for the development of partnership at the Turkmennebit fields earlier in 2018.

The new agreement confirms the intentions of the companies to continue joint work at the Goturdepe field and to use effective technologies and TATNEFT's competencies in the area of crude oil production intensification.

Currently, negotiations are underway on the partnership in the organization of production for the repair of oil field equipment and tubing, provision of services for the construction of a geological and hydrodynamic model of the field, etc.

Nail Maganov, General Director of PJSC TATNEFT:

'TATNEFT Company has had long-standing friendly relations with Turkmenistan. This year our fruitful cooperation with the state concern 'Turkmennebit' is 10 years old.

We are glad that our competencies are in demand at the international market and we are always ready to openly engage in the dialogue with partners. '

Guichgeldi Baygeldiev, Chairman of the State Concern 'Turkmennebit':

Since 2010, Turkmenneft has been successfully cooperating with TATNEFT within the framework of the concluded contract for the provision of well workover and enhanced oil recovery services at the Goturdepe field.

Thanks to effective geological and technical measures, crude oil production has been restored at 128 wells, mainly from the idle stock and the stock prepared for physical liquidation. Today, the cooperation between the State Concern 'Turkmennebit' and TATNEFT Comopany aimed at increasing the flow rate of oil wells has been extended for another 8 years'.

Forward-looking statements: This press release contains certain statements regarding future events and expectations, which are forward-looking in nature. Any statement in this press release that is not a historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ materially. PJSC TATNEFT shall assume no obligation to update such forecasts to reflect actual results, changes in assumptions or changes in factors affecting these statements.