11 Nov 2022 18:46

Tagras oilfield services holding intends to step up its presence in India, looks to expand into new CIS countries

MOSCOW. Nov 11 (Interfax) - Tatar oilfield services holding Tagras intends to expand its presence in India and is considering entry into new Commonwealth of Independent States (CIS) markets for the company, CEO Lenar Nazipov told Interfax.

"This market [India] is a priority for us now. We will continue developing our contacts there. Now we are preparing a meeting at the level of representatives of other enterprises of the holding so that we can reach out there with other types of work," Nazipov said.

As previously reported, this summer, TNG-Group, which is a part of Tagras, concluded its first contract in India for carrying out seismic surveys for SunPetro on the Indian continental shelf in the Cambay oil and gas basin. Since then, the company has won several more tenders and has already signed new contracts, Nazipov said.

The CEO of the holding also noted that Tagras is also studying other markets, primarily those in neighboring countries.

"So far, we are considering prospects for work in Turkmenistan and Uzbekistan. In the near future we are also planning to visit Azerbaijan with a delegation of the Republic of Tatarstan in order to try to present some of our companies there," Nazipov said.

Tagras Holding was founded in 2006 based on Tatneft's service divisions, incorporating 60 companies, providing geophysical, drilling, mechanical, oilfield, energy, transport and IT services.