Russian Zarubezhneft, Uzbekneftegaz conclude agreement on oil production conditions

JSC Zarubezhneft and Uzbekneftegaz signed an agreement on the conditions of hydrocarbon production at the “Khartoum”, “East Khartoum” and “South Alamyshik” fields, the press service of the Russian company reports.

“On April 5, 2019, in Moscow, Zarubezhneft and Uzbekneftegaz signed an agreement on the main conditions for implementation of the project in Uzbekistan and a roadmap to ensure timely and high-quality work at the “Khartoum”, “East Khartoum”, and “South Alamyshik” in order to increase hydrocarbon production,” the report said.

It is explained that the companies signed an agreement in the framework of the joint venture “Andijanpetro”. In the summer of this year, the parties plan to begin an immediate implementation of the project. 

Earlier, Uzbekneftegaz and Zarubezhneft signed a memorandum of cooperation. According to the document, the parties established a joint working group. In October 2018, the companies discussed the preparation of an agreement on oil production in the east of Uzbekistan.

Zarubezhneft is a holding company uniting more than 20 joint ventures and subsidiaries in various segments of the oil and gas business. The only shareholder is represented by the Federal Property Management Agency of the Russian Federation.