'Uzbekneftegaz' intends to take part in Azerbaijan's shelf production

Baku. 19 June. REPORT.AZ/ “Uzbekneftegaz” plans to participate in the production of hydrocarbons in the shelf zone in the Azerbaijani sector of the Caspian Sea.

Report informs citing the Uzbek media, Chairman of “Uzbekneftegaz” Management Board Alisher Sultanov said.

He added that the strategic agreement signed with the State Oil Company of Azerbaijan Republic (SOCAR) will be a kind of entrance permit for "Uzbekneftegaz" regarding shelf projects.

"Agreement with SOCAR includes our acceptance as a partner in the existing field. It is about work in shelf zone. We understand well that offshore work is not so easy. It is difficult to say how people, which have never worked in the sea, will handle the matter. Therefore, Azerbaijani side will help us to train employees, which will allow us to enter the European market in the future", he noted.

A.Sultanov also stated that they have reached an agreement to consider the issues of geological exploration works in the shelf zone of the Turkmen sector of the Caspian Sea as well as production operations in the future.

Notably, SOCAR President Rovnag Abdullayev during his visit to Uzbekistan in May, has signed a memorandum with “Uzbekneftegaz” on joint development of fields.