OREANDA-NEWS. July 5, 2011. Gurbanguly Berdymukhamedov, the Turkmen President, pointed out at the meeting with Igor Makarov, head of ITERA International Group of Companies, that ITERA proved itself to be one among reliable business partners of his country. According to the Turkmen President's press service Berdymukhamedov also spoke in favor of extending the current interaction that resulted in implementation of a few successful joint projects.

"During the meeting, there was a committed exchange of views on the prospects of mutually beneficial cooperation in view of priority areas of social and economic development of Turkmenistan. Makarov reported to the head of the country on the progress achieved in the projects currently under way, particularly on construction of a high-grade hotel in Avaza, a national tourist zone, and on implementation of certain previous instructions. In this context, plans for bilateral cooperation for the near future and possibilities to increase efficient business cooperation have been discussed", – Berdymukhamedov's press service pointed out.

This April ITERA commissioned two modern horse arenas in the Balkan and the Lebap provinces. In October of 2010, within the frameworks of a contract signed by and between state-owned Turkmengaz and MRK-Engineering, a daughter of ITERA Group, a 198 km long Central Kara Kum – Yilanly gas pipeline was put into operation. This pipeline is intended to service the already operational CAC-2 and Khiva-Beyneu main gas pipeline systems.

ITERA, jointly with Zarubezhneft, is also implementing the Block 21 development project offshore Turkmenistan. 3D seismics in the area are expected to be completed this year while drilling of the first exploratory well is planned for 2012. Altogether, the exploration program provides for drilling of three exploratory wells. The Turkmen authorities may approve that this project is joined by another Russian company – Rosneft.