SOCAR and Uzbekneftegaz to create trading joint venture

11:18 - 22.11.2019


November 22, Fineko/abc.az. SOCAR and Uzbekneftegaz made a decision to open a trading joint venture to export hydrocarbons from Uzbekistan to Europe.

With reference to the press service of Uzbekneftegaz, it is reported that this agreement was reached during a meeting between Uzbekneftegaz and representatives of SOCAR, SOCAR Trading and Chemtrade LLC.

The JV will be a new stage for Uzbekneftegaz and will allow the company to enter the export markets of Europe, as well as countries that do not have a direct transport corridor with Uzbekistan.

This May Uzbekneftegaz, SOCAR and BP Azerbaijan signed an agreement on geological exploration in the investment blocks of the Aral Sea. The document provides for geological exploration in the Uzbek part of the Aral Sea.

The second agreement signed between SOCAR and Uzbekneftegaz is related to the development of four fields under development in Kashkadarya Oblast.

 

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