BAKU, Azerbaijan, July 29. Uzbekneftegaz and China's CNTIC discussed accelerating the delivery of three high-capacity drilling rigs worth more than $40 million to support the country's efforts to increase hydrocarbon production.
This was reflected in the statement by the Uzbekneftgaz following a meeting between Uzbekneftegaz Chairman Abdugani Sanginov and a delegation led by Yu Chunxiao, vice president of CNTIC.
The companies reviewed the implementation of ongoing joint projects, including a contract for the supply of three drilling rigs with a lifting capacity of 450 tons each.
"One of Uzbekneftegaz's key priorities is increasing hydrocarbon reserves by accelerating geological exploration and drilling at promising fields while improving production efficiency through the introduction of modern technologies," the company said in a statement.
During the talks, Sanginov emphasized the importance of delivering the drilling equipment ahead of schedule. Under the current contract, the rigs are due to be delivered in December 2026, but the parties discussed the possibility of expediting production to complete deliveries by November.
According to Uzbekneftegaz, earlier delivery of the equipment would allow drilling operations at new wells to begin sooner, help complete project milestones ahead of schedule and increase natural gas production.
CNTIC representatives reaffirmed the company's commitment to expanding its partnership with Uzbekneftegaz and said they would take the necessary measures to fulfill their obligations under the existing contracts on time and in accordance with quality standards.
The meeting concluded with both sides agreeing to maintain close coordination on technical and organizational matters to ensure the efficient implementation of joint projects and advance bilateral cooperation to a new stage.
The discussions come as Uzbekistan continues to prioritize investment in modern drilling technologies and exploration activities to replenish hydrocarbon reserves and strengthen domestic energy production.
