BAKU, Azerbaijan, Oct. 30
By Fakhri Vakilov-Trend:
A roadmap for implementing bilateral documents of further cooperation was discussed at Uzbekistan’s Uzbekneftegaz JSC oil and gas company with the French Total, Russian Novatek and Mubadala Petroleum from the UAE, Trend reports citing the press service of Uzbekneftegaz JSC.
At a meeting in Tashkent, companies discussed previously submitted geological materials on promising investment blocks and fields proposed for exploration and increasing hydrocarbon production.
The parties agreed that in the second half of Nov. 2019, Mubadala Petroleum will organize a presentation in Abu Dhabi based on the study of all materials and determining further steps for joint cooperation. Representatives of Uzbekneftegaz, Total E&P Activites Petrolieres and Novatek will be invited to the presentation.
In Oct. 2018, Total signed an agreement with Uzbekneftegaz to study the possibility of exploration in Uzbekistan, and a month later, the company announced that Total had involved Novatek in pursuing possibility of oil and gas exploration in the country. This year, Mubadala Petroleum has been also involved in the project.
Earlier, Chairman of the board of Uzbekneftegaz Bakhodyr Sidikov told reporters that the company expects proposals from Total and Novatek on the implementation of the project after investors have studied the preliminary materials. It was planned that Total will make a decision on exploration in March. However, according to the head of Uzbekneftegaz, because of the insufficient information on the proposed sites, it took more time to study them.
Total S.A. French oil and gas company, the fourth largest oil producer in the world after Royal Dutch Shell, British Petroleum and ExxonMobil. The headquarters is located in Paris.
Total's history began in 1924, with the creation of Compagnie Française des Pétroles (CFP). At the time, we produced oil in the Middle East. Over the years, we have expanded internationally and diversified into gas, refining, petrochemicals and petroleum product marketing, as well as solar power, bioenergies and energy storage. We have been innovating for nearly 100 years to meet our customers' expectations.
PAO NOVATEK is the largest independent natural gas producer in Russia. The Company is principally engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons and have more than 20 years of operational experience in the Russian oil and natural gas sector.
The principal operating areas of the company are concentrated in the Yamal-Nenets Autonomous Region (YNAO) in Western Siberia. The YNAO is the most significant gas producing region in Russia, accounting for approximately 80 percent of Russia’s natural gas production and approximately 16% of global gas production.
As of 31 December 2018, Novatek had 15.8 billion barrels of oil equivalent (boe) of SEC proved reserves. Most of our reserves are located onshore or can be developed from onshore locations and are attributed to the conventional categories.
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