Malaysia's Petronas inks deal to develop more oil fields in Uzbekistan
16-MAY-2008 Intellasia | AP
May 16, 2008 - 7:00:00 AM
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Malaysia's national oil company Petroliam Nasional Berhad said Wednesday it has inked a deal to develop new oil fields in Uzbekistan as part of an expansion in the energy-rich central Asian nation.
Petronas said its wholly owned subsidiary, PETRONAS Carigali Overseas, has signed a production sharing pact with the Uzbekistan government for the development and production of the Urga, Kuanish and Akhchalak oil fields in the northern region of Ustyurt.
Petronas said it also inked an agreement with Uzbekistan national oil firm, Uzbekneftegaz National Holding Company, to undertake a feasibility study for a gas project. It gave no details.
"The agreements for the two projects will enhance Petronas' presence in the Uzbek oil and gas sector," it said in a statement.
The agreements were signed Tuesday in Tashkent.
PETRONAS Carigali is already actively involved in a number of oil and gas exploration blocks in Uzbekistan, the statement said.
Petronas is also exploring the possibility of developing downstream petrochemical projects in Uzbekistan, it said.
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