Uzbekistan, Tashkent, 16 October / corr Trend T.Zhukov / Uzbekneftgaz national holding company (NHC) and China National Oil Corporation (CNOC) established a new joint venture (JV), Trend correspondent in Tashkent reported.
"Constituent agreement was signed and regulations of Mingbulagneft joint venture w ere founded between two companies," Uzbek holding told Trend . JV is being established to carry out joint supplementary exploration and development of Mingbulag field in the Namangan region.
Andijanneft OJSC (structural subdivision of Uzbekneftegaz NHC) and China National Oil & Gas Exploration & Development Corporation (CNODC) are founders of JV. JV is created on a par with, participation shares of sides is 50% each. Other details of the agreement, cost of project and terms of its realization, while have not been announced.
In April 2007 Uzbeknftgaz NHC and CNOC signed an agreement on basic principles of cooperation on joint supplementary exploration and exploitation of Mingbulag field. In May 2008, an agreement was signed on basic principles of establishment of this JV.
Mingbulag field was opened in March 1992. It was considered one of the largest ones in republic for a long time. The depth of the well is 5,405m . According to the primary estimation of experts, its resources were estimated at
400mln tons.
Serious incident happened after the field was opened. Oil industry workers could not stop an oil gusher during a month and a half. As local specialists assert, technology was violated upon holing the well and it resulted in negative consequences. Resources appeared to be located, at a depth of 6,000m under pressure, exceeding the usual rate for the region by 1 . 8 time s .
Ejection of raw material was estimated at 20,000 tons of oil per day. Oil caused considerable damage to environment, having spilled out.
According to the State committee of geology, Mingbulag field is refe rr ed as low debit one . " Uzbekistan plan s to use experience of Chin ese company in development of low debit fields, which are located in Fergan oil and gas region. There are more than 500 small fields with a debit of 1-2 tons of crude oil per day," SCG said.
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