Baku, Azerbaijan, July 16
By Nargiz Sadikhova - Trend:
Saudi Aramco company of Saudi Arabia expressed interest in the work of two gas projects of LUKOIL in Uzbekistan, Trend reports with reference to Uzbek media.
In turn, LUKOIL is planning to cooperate with the company in international projects, researches and innovations.
As reported previously, the gas extraction on the projects of LUKOIL in Uzbekistan is to exceed 16 billion of cubic meters a year. LUKOIL is investing over $2 billion in the projects and is planning to launch exploration on new blocks.
LUKOIL has conducted business in the Republic of Uzbekistan under production sharing agreements (PSA) made with regard to the projects of Kandym-Khauzak-Shady and Gissar. The Company’s strategic partner in these projects is the National Holding Company (NHC) Uzbekneftegaz.
Saudi Aramco is a Saudi Arabian national petroleum and natural gas company based in Dhahran, Saudi Arabia. It is one of the largest companies in the world by revenue, and according to accounts seen by Bloomberg News, the most profitable company in the world. Saudi Aramco has both the world's second-largest proven crude oil reserves, at more than 270 billion barrels and second-largest daily oil production.
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