Uzbekneftegaz plans to create JV at Ustyurt

Tashkent, Uzbekistan (UzDaily.uz) -- National holding company Uzbekneftegaz is planning to create a joint venture on holding exploration works and develop fields in Ustyurt region.

Uzbekneftegaz is preparing to realization of an investment project “Holding exploration works at investment blocks Sechankul, Akdjar and Chimbay, as well as develop fields Urga, Akchalak and Chandir groups”.

The project realization will be conducted via creation of the joint venture with foreign investments on parity conditions, the company said.

According to the investment programme, the project will envisage creation of capacities on mining 1.5 billion cubic meters of gas and 76,000 tonnes of gas condensate. The volume of investments can make up US$700 million.