Total E&P may carry out exploration on Uzbek investment blocks
Baku, Azerbaijan, Oct. 9
By Fikret Dolukhanov – Trend:
Uzbekistan’s oil and gas company Uzbekneftegaz and the French company Total E&P signed a cooperation agreement, which provides for possibility of carrying out geological exploration on investment blocks in Uzbekistan, the Uzbek company announced.
The signing of the document took place during the meeting of Associate Chairman of the Board of Uzbekneftegaz Bakhrom Ashrafkhanov with President of Total E&P Arnaud Breuillac in preparation for the official visit of the president of Uzbekistan to France.
According to the agreement, a joint working group will be created, which, based on the results of the study, will provide certain proposals for further development of cooperation.
Reportedly, the agreement will give impetus to the development of fruitful cooperation between the companies of the two countries in the oil and gas industry.
Back in September 2018, the parties signed a confidentiality agreement to familiarize Total E&P representatives with promising investment blocks of Uzbekistan.
Total E&P operates in more than 130 countries around the world, and has about 100,000 employees. The company annually produces about 130 million tons of oil. The company's market capitalization is $162.78 billion. In addition to production, the company carries out oil refining and owns a network of gas stations, as well as a number of chemical industry enterprises.
In January-August 2018, the trade turnover between Uzbekistan and France amounted to $195.1 million, of which $117.3 million accounted for exports from Uzbekistan, and $77.8 million for imports from France.
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