Uzbekneftegaz, SOCAR considering issue of creating joint venture

Uzbekneftegaz, SOCAR considering issue of creating joint venture On the first day of the event the 25th Anniversary International Oil and Gas Exhibition of Uzbekistan - OGU 2023, a meeting was held with the participation of the leadership of Uzbekneftegaz and a delegation led by the President of the Azerbaijani company
Energy
May 19, 2023 06:54
Uzbekneftegaz, SOCAR considering issue of creating joint venture

On the first day of the event the 25th Anniversary International Oil and Gas Exhibition of Uzbekistan - OGU 2023, a meeting was held with the participation of the leadership of Uzbekneftegaz and a delegation led by the President of the Azerbaijani company SOCAR Rovshan Najaf, Report informs, citing UzDaily.

At the beginning of the meeting, the Uzbek side thanked the president of SOCAR for his interest in strengthening cooperation between the two companies.

During the meeting, the importance of strengthening and developing relations in the areas of "Upstream" and "Downstream" was emphasized.

Particular interest was shown in participation in the project "Modernization of the Bukhara Oil Refinery", as well as joint development at the fields both in the Republic of Uzbekistan and the Republic of Azerbaijan. At the same time, the management of SOCAR is ready to take part in service contracts, as well as as an operator on the territory of the Republic of Uzbekistan.

The agenda of the meeting also considered the issue of creating a SOCAR Trading joint venture between Uzbekneftegaz and SOCAR.

In turn, the Uzbek side thanked the representatives of SOCAR for their interest in developing potential cooperation between the companies and also stressed the importance of developing renewable energy areas in compliance with environmental standards. In this regard, close cooperation in the development of this area is proposed.

As a result of the meeting, agreements were reached on further study of the prospects for cooperation in all areas and to continue the development of all joint projects at the working level.

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