Uzbekneftegaz, Zarubezhneft begin joint operations

The Uzbek-Russian joint venture Andijanpetro, established by Uzbekneftegaz and Zarubezhneft, has begun operations, the press service of the Energy Ministry said.

Recently, an official ceremony of signing the corporate agreement between the two companies was held in Tashkent, and the Andijanpetro LLC joint venture was launched. On December 1, the actual transfer of the operation from Andijanneft JSC to the joint venture, which was established on March 16, 2019, took place.

The company will be engaged in production at the existing oil fields of South Alamyshik, Khartoum and East Khartoum. The new JV set a goal to increase the current level of oil production in the fields entrusted to it by more than three times.

These deposits are classified as mature. As part of the project for their development, it is planned to increase oil production by updating underground and ground equipment, collecting and systematizing geological and geophysical data, intensifying production, optimizing the development system, and introducing the best practices of the company, the Energy Ministry noted. 

They also stated that the project will allow to study the features and geological potential of the region, establish constructive relationships with the partner and consider the possibility of expanding the area of activity through implementation of other projects in Uzbekistan.