Vietnamese company starts geological exploration at new block in Uzbekistan

Tashkent, Uzbekistan, Jan. 14

By Demir Azizov- Trend:

Vietnamese Petrovietnam Exploration & Production (PVEP) embarked on implementation of a geological exploration work program at the Molabaursk investment block of Ustyurt region (north-western Uzbekistan), representative of Kossor Operating Company LLC (operator of PVEP projects in Uzbekistan) told Trend on Jan.14.

A tender has been announced today for 2D seismic data processing, according to the company representative. The tender results will be announced in March, and the entire volume of seismic work will be held by late 2014.

The company representative didn't specify the volume of seismic exploration work planned to be carried out at Molabaursk investment block.

In June 2012, PVEP and Uzbekneftegaz signed an agreement for five years of exploration work at Molabaursk investment block with a total area of 3,600 kilometers. Investments made by the Vietnamese company will amount to $61.6 million.

Kossor Operating Company currently carries out geological exploration works at Kossor Investment Block of Ustyurt region.

In accordance to an agreement signed between PVEP and Uzbekneftegaz NHC in February 2010, the Vietnamese company will carry out geological exploration works at this block within five years. The company's investments will be equal to $29.4 million.

A 2D seismic survey is currently underway in the license area of 886 line kilometers, along with the welding in the area of about 2,000 line kilometers. Additionally, testing of the well with a depth of around 4,000 meters is currently underway.

In 2010, the Vietnamese company and the Uzbek side also signed a memorandum under which PVEP has to study the possibility of carrying out geological exploration work for oil and gas in the Bukhara-Khiva region of Uzbekistan.

Translated by L.Z.

Edited by C.N.