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Uzbek, Russian companies will produce shale oil and gas

23 November 2018 15:11 (UTC+04:00)
Uzbek, Russian companies will produce shale oil and gas

By Abdul Kerimkhanov

Uzbekneftegaz and Russian oil and gas company Tatneft will jointly conduct research work on the development and production of shale oil and gas, bitumen and heavy oil, as well as monitoring geodynamic changes using satellite observation systems, the press service of the Uzbek oil and gas company said on November 23.

This was announced during a meeting in Uzbekneftegaz between Deputy Prime Minister of Uzbekistan Alisher Sultanov and Tatneft CEO Nail Maganov, which was also attended by the leaders of Uzbekneftegaz, industry enterprises and organizations.

Tatneft is one of the leading partners of Uzbekneftegaz JSC. Cooperation between the parties is developing dynamically. Strengthening ties is facilitated by regular meetings at which prospects for bilateral cooperation, including the joint implementation of investment projects are discussed.

The parties discussed partnership in such areas as mechanical engineering, petrochemicals, geological exploration, field development and enhanced oil recovery, exchange of experience and training.

At present, of particular interest to the parties are the localization of the production of chain drives (PC-22) at Uzbekhimmash together with the Tatneft Bugulma mechanical plant, the development of fields, including the Pritashkent investment block, the creation of a joint venture in the future.

The Uzbek oil and gas company offered Tatneft to participate in the operation of the Fergana refinery and expressed willingness to consider mutually beneficial forms of cooperation. Representatives of Tatneft, in turn, expressed interest in participating in the project and organizing joint visits to the production sites of the plant.

Following the meeting, the parties agreed to develop a roadmap for long-term cooperation and create a coordinating council to promote the development of bilateral relations in all areas.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94

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