Uzbekneftegaz, Tatneft to develop, produce shale oil & gas

Baku, Azerbaijan, Nov. 23

By Fikret Dolukhanov – Trend:

Uzbekneftegaz and the Russian oil and gas company Tatneft will jointly conduct research work on the development and production of shale oil and gas, bitumen and heavy oil, as well as monitor geodynamic changes using satellite observation systems, the press service of the Uzbek oil and gas company said referring to the meeting in Uzbekneftegaz between Deputy Prime Minister of Uzbekistan Alisher Sultanov and Tatneft CEO Nail Maganov.

The meeting was also attended by the top management of Uzbekneftegaz, industry enterprises and organizations.

Tatneft is one of the leading partners of Uzbekneftegaz. Cooperation between the parties is developing dynamically. Strengthening ties is facilitated by regular meetings at which prospects for bilateral cooperation, including the joint implementation of investment projects, are discussed.

The parties discussed partnership in such areas as mechanical engineering, petrochemicals, geological exploration, field development and enhanced oil recovery, experience exchange and training.

The parties expressed particular interest in the localization of the production of the PC-22 chain drives at Uzbekhimmash Plant together with Tatneft’s Bugulma Mechanical Plant, in the development of fields, including the Tashkent investment block, and in the creation of a joint venture in Uzbekistan in the future.

The Uzbek oil and gas company offered Tatneft to participate in the operation of the Fergana refinery and expressed willingness to consider mutually beneficial forms of cooperation. Representatives of Tatneft, in turn, expressed interest in participating in the project and organizing joint visits to the production sites of the plant.

Following the meeting, the parties agreed to develop a roadmap for long-term cooperation and create a coordinating council to promote the development of bilateral relations in all areas.

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Follow the author on Twitter: @FDolukhanov

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