A new ultra–deep well - 7,300 meters – has been drilled at the Uzynada oil and gas field in the coastal zone of the Caspian Sea (Esengulyi district of the Balkan region). It is expected that this will expand the explored boundaries of the oil deposit, which experts previously estimated at about 5 million tons. 

The new well is being drilled on the basis of research by the Turkmengeology Corporation and the Turkmeneft Concern, the results of which were announced at a meeting of the Turkmen government on Wednesday by Deputy Prime Minister Shakhym Abdrakhmanov, reporting on the progress of industrial development of the Uzynada area.

Three years ago, the ARETI international group of companies (with its head office in Geneva, Switzerland) showed interest in the development of Uzynada resources. In 2019, Turkmenneft and MGK ARETI signed a memorandum of understanding.