Uzbekneftegaz, CNPC agree to accelerate implementation of joint projects

TASHKENT. July 1 (Interfax) - JSC Uzbekneftegaz and China National Petroleum Corporation (CNPC) have discussed the prospects for implementing new investment projects, the Uzbek state company said in a statement.

"The chairman of the board of Uzbekneftegaz Abdugani Sanginov held a meeting with CNPC Vice President Song Dayun. They discussed the expansion of cooperation between the companies. It was noted that the pace of implementation of joint projects, contracts and services with Chinese companies has significantly increased, while a significant part of the cooperation falls on CNPC enterprises," the statement said.

During the negotiations, the parties reviewed the activities of the joint venture Asia Trans Gas, the results of cooperation in the field of natural gas transportation, as well as the current status of work on developing hydrocarbon fields by the joint venture New Silk Road.

"In addition, implementing the project for drilling 30 deep exploration wells in the Ustyurt region was discussed. The parties emphasized the need to accelerate the mobilization of equipment and installation work, as well as the start of drilling within the established timeframes," the statement said.

Special attention was paid to the work that CNPC's subsidiary, CCDC, is performing to overcome the man-made accident at the 25 Years of Independence field in the Boysun district. In this context, the parties discussed issue of mobilizing the required equipment, specialists and other resources for the timely and high-quality implementation of the project.

Following the meeting, an agreement was reached to accelerate the implementation of joint projects, develop new areas of cooperation and further expand the long-term partnership between the companies.