Uzbekneftegaz, CNPC Silk Road Group hold talks
09/10/2013 14:16
Uzbekneftegaz, CNPC Silk Road Group hold talks
09/10/2013 14:16
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekneftegaz national holding company and CNPC Silk Road Group held negotiations in Tashkent on 4 October 2013.
CNPC Silk Road Group is a subsidiary of the China National Petroleum Corporation (CNPC) on developing and exploration of gas and oils in Uzbekistan at investment blocks in three oil and gas fields. Uzbekneftegaz and CNPC signed the agreement on this in June 2006.
During the negotiations with Uzbekneftegaz management, CNPC Silk Road Group CEO Xu Hung (transliterated) said that the projects is progressing well, and the potential of the oil and gas sector of Uzbekistan can count on long-term cooperation.
CNPC Silk Road completed the first stage of exploration works at five investment blocks (Aralomorye and Samsko-Kosbulak investment blocks at Ustyurt oil and gas region, Karakul and Romitan investment blocks in Bukhara-Khiva oil and gas region, Karajida-Gumhan investment blocks in Ferghana oil and gas region).
The project on holding exploration works at five investment blocks was included to the programme of Uzbekistan on priority directions of industrial development of the country for 2011-2015.
During the exploration works, several productive horizons were revealed. The sides reached agreement on creation of joint venture on parity to develop new hydrocarbon fields. At the end of the meeting, the sides signed a package of documents directed at creation of the venture.
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