Uzbekistan, Tashkent, Sept.20/ Trend, D. Azizov /
The Vietnamese Petrovietnam Exploration & Production (PVEP) will begin drilling the first exploratory well on the Kosorsky investment unit in Uzbekistan's Ustyurt region in mid-2012, the National Holding Company (NHC) "Uzbekneftegaz" said.
The Vietnamese company is currently conducting a seismic survey on the Kosorsky unit. Results of field processing of the first seismic data showed high perspective for the unit, especially the Paleozoic sediments.
The information was provided at the Uzbekneftegaz leadership talks held last week with the Vietnamese government delegation, led by the Deputy Minister of Trade and Industry Minister Le Zan Vin.
The sides appreciated the course of geological work in the Kosorsky investment unit, conducted as a joint project with PVEP.
Preparations for signing an agreement between "Uzbekneftegaz" and the Vietnamese company, under the investment project "Joint study of Paleozoic sediments in some parts of the Bukhara-Khiva region," were also discussed.
PetroVietnam and Uzbekneftegaz signed an agreement in 2008 on cooperation in oil and gas in three areas - exploration, expert exchanges, and oil and gas reserves in new territories.
PVEP and Uzbekneftegaz signed an agreement on the basic principles of a joint study of the Ustyurt region in Uzbekistan in February 2010.
The document envisages joint exploration in the Ustyurt region (north-west of Uzbekistan).
Under the agreement, the Vietnamese company will obtain the Kosorsky investment unit with a total area of 5,500 square kilometers to undertake the exploration.
Uzbekneftegaz, the monopoly operator of the oil and gas sector of Uzbekistan, was established in 1998. It includes six joint stock companies.
Uzbekistan ranks second on natural gas production among CIS countries. It is among the ten largest gas producing countries in the world.