Uzbekneftegaz, Sinopec discuss projects for developing new promising blocks

TASHKENT. Aug 12 (Interfax) - JSC Uzbekneftegaz plans to expand cooperation with China's Sinopec in the field of geological exploration and oil refining, the Uzbek state company said in a statement.

"The chairman of the board of JSC Uzbekneftegaz, Abdungani Sanginov, received a delegation led by the head of Sinopec's representative office for Russia and Central Asia, Fan Xiangnan. At the meeting, raising cooperation in the oil and gas sector to a new level, expanding geological exploration work, drilling deep wells and introducing modern technologies in the field of oil refining were discussed in detail," the statement said.

During the discussion, Sanginov said that as a result of geological exploration work carried out in recent years in the Ustyurt region, promising hydrocarbon reserves were identified. It was noted that the construction of wells with a depth of 5,500-6,000 meters is planned as part of developing these fields, the drilling of which will be carried out under conditions of high reservoir pressure and high temperatures.

"In this regard, the Uzbek company suggested that Sinopec present modern technological solutions and commercial proposals for this area," the statement said.

During the negotiations, the issue of jointly conducting geological exploration work and developing new promising blocks was also considered as one of the priority areas. It was noted that the level of geological exploration work has been increased almost three times this year compared to last year. "In this regard, the parties exchanged views on organizing joint exploration in promising areas and developing cooperation formats for field development at the next stage," the company said.

Another important topic of the meeting was discussion of cooperation on introducing new technologies in oil refining.

In addition, the parties agreed to study opportunities for cooperation through research institutes.