Tender announced for 3D seismic exploration in Uzbekistan

Business Materials 15 May 2014 17:00 (UTC +04:00)

Tashkent, Uzbekistan, May 13
By Demir Azizov- Trend:

"Kossor Operating Company" LCC, a subsidiary of Petrovietnam Exploration & Production (PVEP) in Uzbekistan, announced a tender for implementation of works on 3D seismic surveys at Kossor investment block.

The proposals to participate in the contest will be accepted until June 3, 2014.

On the results of 3D seismic surveys that are planned to be carried out in the second half of the year; it is envisaged drilling of the second exploration well on the block, according to the Kossor Operating Company.

In 2011-2013, 2D seismic exploration in the volume of 886 linear kilometers was conducted, an exploration well with the depth of 4014 meters was drilled and the testing work on the well was completed in the licensed area, which, according to the Vietnamese company, "gives preliminary positive results."

As reported earlier, in 2010, Uzbekneftegaz and PVEP signed an agreement to conduct exploration work on the Kossor investment block of Ustyurt region.

In accordance with the document, the Vietnamese company should invest $29.4 million in exploration work on the Kossor investment block for five years and spend no less than $13 million on the minimum exploration program during the first three years.

PVER established the Kossor Operating Company to implement the project in Uzbekistan.

In June 2012, Uzbekneftegaz National Holding Company and PVEP signed an agreement to conduct exploration on Molabaur investment block for five years.

The volume of investments of the Vietnamese company will be $61.6 million. The project operator is Kossor Operating Company.

The company received a license for the right to use the subsoil on Molabaur investment block. At present, processing of the old 2D seismic data is being carried out on the block in order to determine its potential in 2013.

In 2012, "Uzbekneftegaz" and PVEP signed an agreement on the joint exploration of the Paleozoic deposits on the territory of Uzbekistan.

In 2013, the operator carried out the collection, analysis and study of materials from previous years to determine the most promising sites. At present, an agreement of promising sites and governmental decision on this project is expected.

Uzbekistan has revealed 50 investment units for geological exploration work on their territory by foreign investors. Licenses have been issued for 19 of them.

Some 202 raw hydrocarbon fields have been discovered in the republic. Over 50 percent of the discovered fields are under development, 35 percent prepared for the development, and exploration work is being conducted in the rest.

The country annually produces more than 60 billion cubic meters of natural gas, about 20 percent of which is exported.

Edited by C.N.