EnergoNews reported that the company approved a programme of technologic re-equipment of enterprises of field geophysics and fleet of drilling equipment.

Within the programme for 2012-2020, the company plans to buy 14 drilling equipment for exploration drillin, 7 digital telemetric seismic stations for 3D seismic exploration, 23 seismic stations for 2D seismic exploration, as well as other equipment for seismic exploration works.

Uzbekneftegaz will finance the programme due to own resources. The equipments are purchased to increase hydrocarbons reserve due to boosting exploration works for oil and gas.

The Uzbek company purchased drilling equipment for US$274.2 million in 2007-2011 within the strategic programme on oil and gas geological exploration works till the end of 2020.

China Petroleum Technology & Development Corporation (CPTDC) and China National Machinery Industry Corporation (SINOMACH) delivered 23 units of drilling equipment, special equipment and 10 cementing facilities for US$209 million in 2009 within the agreement signed in 2007.

The contract was financed due to loan of China Eximbank at the size of US$177.6 million and own resources of Uzbekneftegaz – US$31.5 million.