BAKU, Azerbaijan, August 12. Uzbekistan’s
state-owned oil and gas company Uzbekneftegaz is seeking to expand
cooperation with China’s Sinopec in exploration, deep drilling and
oil refining as the country moves to develop new hydrocarbon
reserves.
This was reflected in the statement by the Uzbekneftgaz
following a meeting between Uzbekneftegaz Chairman Abdugani
Sanginov and a delegation from Sinopec led by Fan Xiannan, chief
representative for Russia and Central Asia, to discuss
opportunities for expanding mutually beneficial cooperation in the
oil and gas sector.
The talks focused on expanding geological exploration, drilling
deep wells and introducing advanced technologies in oil
refining.
Sanginov said recent exploration work in Uzbekistan’s Ustyurt
region had identified promising hydrocarbon reserves. As part of
efforts to develop these deposits, Uzbekneftegaz plans to drill
wells at depths of 5,500 to 6,000 meters under high-pressure and
high-temperature conditions.
The Uzbek side invited Sinopec to submit technological solutions
and commercial proposals for the construction of such wells,
according to the company.
The parties also discussed conducting joint exploration
activities and developing new prospective blocks. Uzbekneftegaz
said the volume of geological exploration work this year has
increased nearly threefold from the previous year, creating
additional opportunities for cooperation with international
partners.
"The volume of Geosciences in this year has increased by almost
three times compared to last year. Therefore, an exchange of views
was held on the organization of collaborative exploration in
promising areas and the development of cooperative formats for the
development of Mines at the next stage," the statement said.
The two companies exchanged views on possible formats for joint
exploration of promising areas, followed by the development of
commercially viable deposits.
Oil refining was another key area of the discussions, with the
sides considering cooperation on introducing modern technologies to
improve processing capabilities and efficiency.
The Uzbek side also expressed interest in Sinopec’s research and
development institutes and agreed to explore opportunities for
cooperation in this area.
The discussions come as Uzbekistan seeks to expand domestic
hydrocarbon production by developing new reserves and applying
advanced technologies to increasingly complex geological
conditions. Deeper exploration and higher-pressure drilling could
help unlock additional resources, while cooperation with major
international oil and gas companies could provide access to
specialized equipment, engineering expertise and investment.
The sides emphasized that cooperation based on advanced
technologies, investment and engineering solutions would serve the
interests of both parties.
They agreed to continue practical work on the areas discussed,
including exploration, deep drilling, oil refining and scientific
and technological cooperation.
