An "important strategic decision" has been made to increase oil and gas production at fields in Gazli area, Uzbekneftegaz said.
Namely, the project including 21 fields in Gazli area, which was previously planned to be implemented by foreign investors, will now be implemented by Uzbekneftegaz's own resources.
Reportedly, the project provides for implementing of modern technologies, engaging more drilling equipment, the installation of surface compressor stations, and expediting production processes through the purchase of necessary material and technical resources.
Two weeks ago, talks were held between the leadership of Uzbekneftegaz and the Chinese United Energy Group Limited.
According to Uzbekneftegaz, the current status of the joint project aimed at increasing oil and gas production at fields located in the Gazly area and the pace of its implementation were discussed during the meeting.
"During the negotiations, the parties thoroughly discussed strategic areas, modern technological solutions and financial and economic issues aimed at ensuring effective and stable implementation of the project.
At the end of the meeting, the parties emphasized the importance of further expediting the implementation of the joint project, achieving the set targets in time, and clearly planning the actions for next phases.
