ExxonMobil, Uzbekneftegaz to accelerate implementation of joint project
By Kamila Aliyeva
A meeting with representatives of ExxonMobil was held at Uzbekneftegaz JSC, Uzbek media outlets reported on October 2.
In the course of the joint work, ExxonMobil proved to be a reliable partner of Uzbekneftegaz JSC. Following the official visit of Uzbek President Shavkat Mirziyoyev to the United States, during which an agreement on cooperation was signed, the partnership between ExxonMobil and Uzbekneftegaz received new impetus.
In this regard, representatives of ExxonMobil were thanked for participating as a licensor of process equipment in the project “Organization of production of base oils of groups II and III on the basis of Fergana Oil Refinery LLC,” the press service of Uzbekneftegaz said.
This project is being implemented in accordance with the roadmap for further development of interstate cooperation between Uzbekistan and the United States. The cost of the project is estimated at $150 million. The time frame of its implementation is 2018 - 2021 years.
The U.S. company’s experts noted that this is the only project of such kind in the region.
ExxonMobil is ready to share experience and technology for the successful implementation of this promising project, General Manager for Refining Technologies and Gas Purification, Catalysts and Licensing, Vice President Sean Smith said.
The specialists of the foreign company received extensive information on the latest reforms in the business climate of the country, in particular, the adoption by the President of Uzbekistan of a resolution providing for a new procedure for approving pre-project, project and tender documentation, as well as import contracts.
During the talks, the parties discussed further actions and measures to accelerate the project, in particular signing of license and engineering agreements, the possibility of optimizing prices taking into account the updated configuration of the production process, as well as the possibility of obtaining additional base oils from the residual fraction.
ExxonMobil is the largest publicly traded international oil and gas company which uses technology and innovation to help meet the world’s growing energy needs. The company holds an industry-leading inventory of resources and is one of the world’s largest integrated refiners, marketers of petroleum products and chemical manufacturers.
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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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