BP-Socar Alliance to Work on Uzbek Projects
UK major BP, state-run Azeri Socar and state Uzbekneftegaz have sealed an agreement to jointly study the prospects for the exploration and development of a number of blocks, the Uzbek company announced.
After successful studies the three will aim to finalise commercial terms for a joint upstream venture, Socar's vice president for geology and geophysics Bahram Huseynov told NGW without mentioning any date. “The deal covers studies on the Uzbek part of the Aral Sea, Sam-Kosbulak and the Baiterek investment blocks of the Ustyurt region,” he added.
The three signed a memorandum of understanding in May 2018.
Separately, Socar subsidiary Nipi Neftegas signed an agreement with state-run Uzbekneftegaz to increase hydrocarbon production at the country’s West Tashli, East Tashli, North Shurtan and Garmiston fields, using advanced methods and technologies from Socar, the Uzbek company announced May 19.
Uzbek energy minister Alisher Sultanov told NGW May 15 in the sidelines of the 23rd international exhibition and conference "Oil and Gas of Uzbekistan”, held in Tashkent, that in 2016, the state approved a plan to boost production by 30% to 73bn m3/yr by 2021. The state is planning output this year of 63.6bn m³, of which 43bn m3 would come from Uzbekneftegaz.
Touching upon deal with Socar and BP, he said that the British company had good exploration technology, as well as good production technology to improve the productivity of old fields as well as training Uzbekneftegaz staff. He also said that Socar had good experience of drilling deep wells.
Socar has drilled up to 6,000 meters wells in the Umid and Bulla Deniz fields in the Caspian Sea in the past few years.