RIA Novosti reported that Serbia Naftna Industrija Srbije oil firm controlled by Russia Gazprom Neft, the oil arm of energy giant Gazprom has won a USD 32.95 million contract to drill five oil wells in Turkmenistan.

NIS in which Gazprom Neft holds 51% will develop two 4,800-meter oil wells at the Akpatlavuk field and a 4,500-meter well at the Keimir block in Turkmenistan south-west and two 3,800 meter wells at the Ekerem field in the country west.

The company plans to start work in June 2011 and end in February 2012.

NIS also said it would hold negotiations with state-run Turkmenneft on a possible partnership.

(Sourced from RIA Novosti