Uzbekistan, Tashkent, April 12 / Trend D. Azizov /
The Malaysian Petronas Carigali Overseas Sdn. Bhd and the Saudi Arabian Delta Oil signed an agreement to establish an investment consortium to implement a production-sharing agreement to develop oil and gas fields this week.
The fields are located on the Boysun investment block in Surkhandarya, Uzbekneftegaz reported.
The agreement was signed late last week during the visit of Petronas Vice President Datuk Abdullah Karim and Delta Oil Chairman Badr Al-Aiban to Tashkent.
The agreement details were not specified.
Delta Oil's participation in the project will likely attract additional investments and significantly accelerate the agreement's implementation.
"The sides expressed confidence that the tripartite format of cooperation will give a new impetus to its development," both parties said in a joint statement.