Uzbekistan, Russia create joint venture in gas sector
21/10/2018 12:46
Uzbekistan, Russia create joint venture in gas sector
21/10/2018 12:46
Tashkent, Uzbekistan (UzDaily.com) -- Neftegazinvest and the Russian company Forus established a joint venture within the framework of the project to expand the capacity of the Gasli underground gas storage (UGS) with the development of the field.
On 18 October 2018, the joint venture is registered with the authorized bodies of the Republic of Uzbekistan.
Within the framework of the first Forum of interregional cooperation "Uzbekistan-Russia", Neftegazinvest and Forus held talks on constituent documents on the establishment of the joint venture.
In May 2018, during the St. Petersburg International Economic Forum, a Memorandum of Understanding was signed with Forus JSC.
The document envisages cooperation in such areas as the joint development of pre-project documentation for the expansion and reconstruction of the Gazly UGS facility with a phased increase in its storage capacity, as well as the creation of a joint venture for the expansion, reconstruction and subsequent joint operation of the Gazly UGS facility.
Currently, design institutes are developing a Concept for increasing gas storage, additional exploration and additional development of gas horizons and oil fields of the Gazli field, including additional exploration of the field (stage I) and additional development of the field and expansion of the UGS (stage II). Completion of the Concept is scheduled for November 2018.
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