BAKU, Azerbaijan, Mar. 5
By Klavdiya Romakayeva - Trend:
Uzbekneftegaz JSC and Uzbek-Chinese joint venture New Silk Road Oil & Gas discussed reforms and prospects for cooperation in the oil and gas industry, Trend reports referring to the press service of Uzbekneftegaz JSC.
It is reported that a meeting of the founders of Uzbekneftegaz JSC and New Silk Road Oil and Gas LLC was held within the framework of an extraordinary videoconference.
During the meeting, the parties discussed topical issues related to the current activities of the joint venture. At the same time, special attention was paid to the discussion of reforms and prospects for cooperation in the oil and gas industry, newly created by Uzbekneftegaz.
The founders also discussed the export potential of the joint venture and the impact of the COVID-19 pandemic on its operations.
The joint venture New Silk Road Oil and Gas LLC, operating in Uzbekistan since 2013, was created by the China National Oil and Gas Exploration and Development Company Ltd (CNODC) and Uzbekneftegaz National Holding Company JSC in order to conduct joint additional exploration and development of gas condensate fields in Uzbekistan.
The main activity of JV New Silk Road Oil and Gas LLC is the implementation of the investment project development of the economic zone of Dengizkul, Khojadavlatsky, and Sharkiy Olot gas condensate fields. It is reported that the joint venture currently operates 16 wells.
Established in 2005, CNODC is a subsidiary of China National Petroleum Corporation (CNPC), the largest oil and gas company in China.
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