Uzbekistan to realize a number of joint projects with Azerbaijani and Turkmen colleagues on the Caspian shelf

Almaty. June 26. Silkroadnews – The national holding company (NHC) Uzbekneftegaz plans implementing a number of joint projects with Azerbaijani and Turkmen colleagues on the Caspian Sea shelf, Trend reports.
Earlier “Uzbekneftegaz” signed memorandums of understanding providing for joint activities in this direction. In particular, the memorandum with the state concern “Turkmennebit” (“Turkmenneft”) ensures “establishing mutually beneficial and long-term cooperation in joint exploration and development of deposits on the Caspian shelf of Turkmenistan”. In the future, the parties intend to conclude the hydrocarbons production sharing agreement (PSA).
As for the memorandum with the Azerbaijani state company SOCAR, according to Alisher Sultanov, chairman of the board of NHC Uzbekneftegaz, it provides for partnership on the operating field. The details on the joint work with SOCAR will be determined later.
NHC “Uzbekneftegaz” is the national operator of the oil and gas complex of Uzbekistan bringing together more than 200 enterprises of the industry. The holding’s capacities allow proving natural gas production in the amount of around 60-70 billion cubic meters, including the export part, and liquid hydrocarbons in the amount of 8 million tonnes per year.