French Russian companies eye oil, gas exploration in Uzbekistan
Baku, Azerbaijan, February 28
By Fakhri Vakilov -Trend:
The French company Total and Russian Novatek are planning on oil and gas exploration in Uzbekistan by the end of March, Trend reports via Russian media.
The work on exploring the possibility of developing oil and gas fields in Uzbekistan began a few weeks ago.
"Now we are studying the possibilities of developing fields in Uzbekistan alongside with the government and in partnership with Uzbekneftegaz, we are still studying the data. We started just a few weeks ago, so this is a very early stage of work," representative of Total said.
At the same time, the companies intend to make conclusions on potential of deposits and their development at the end of March.
Last October, Total E&P signed an agreement with Uzbekneftegaz to explore the possibility of conducting exploration on investment blocks in Uzbekistan.
Total is the third largest oil producer in Europe. He is a shareholder of the Russian independent gas producer Novatek with a share of 18.9 percent, and also owns a 20 percent share in the Yamal LNG project, where Novatek is the main shareholder.
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