Uzbekistan, Tashkent, 26 July / corr. Trend T.Zhukov / Petronas Carigali Overseas Sdn. Bhd., the Malaysian corporation, will conduct geological exploration work in the Surkhanski investment bloc (Surkhandarinski region), Trend correspondent reported from Tashkent.
The relevant agreement was signed between Uzbekneftegaz National Holding Company (NHC) and Petronas Carigali corporation, the Malaysian company's Tashkent Office told Trend . This agreement envisages conduct of seismic exploratory work through 2D method, gravimetric and magneto metric survey and drilling of one prospective well, as well as, geophysical and geological estimation. This work covers the term of to three years. It is planned to hold seismic prospecting and geological prospecting in 1,200 linear kilometer volume during this period.
A memorandum on cooperation and an agreement on joint development of oil and gas resources were inked between Uzbekneftegaz NHC and Petronas Carigali corporation during the Uzbek President Islam Kerimov's official visit to Malaysia in October 2005. These agreements envisage investing several hundred millions of capital in the fuel and energy complex of Uzbekistan.
Main terms of the Production Sharing Agreement (PSA) were determined on the development of Baysunski investment sheave (Surkhandarinski region), which includes huge Hajak field of natural gas, during the visit of Tan Sri Dato Sri Mohd Hassan Maricana's, the President of the Malaysian corporation, to Tashkent in December 2007. Within the framework of this project, 2D and 3D field seismic prospecting work has been completed, and well testing and data analysis are carried out. The lump cost of this project, which is included in the investment program of the country for 2008, is $47.8mln.
Petronas Carigali (Baisun) Operating Company LLC and Petronas Carigali (Surkhanski) Operating Company LLC have been established in Uzbekistan to realize two projects of the Malaysian corporation. Talks will be held to sign the relevant PSA in the established order as soon the foreign investors' fulfill all obligations on each agreement.
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