Tatneft Signs Deal to Explore Uzbekistan Oil Fields

Tatneft is interested in a project for oil field development in Uzbekistan, with exploration work starting this summer, a company exec has said, according to Gazeta.uz.

Speaking at the international exhibition Oil & Gas Uzbekistan – 2019, Rustam Sharapov, head of the contract maintenance department at the Russian oil and gas company said that Tatneft has signed an agreement with Uzbekneftegaz on the basic conditions for conducting geological exploration in Uzbekistan.

Exploration will take no more than three months, according to the company. It is currently developing economic models and draft agreements for several oil fields’ development.

Tatneft plans to improve and expand the number of fields in the Andijan region within the framework of the project.

Earlier, Uzbek authorities informed that Tatneft intends to begin construction of gas stations network in Uzbekistan this spring. In late 2018, the Russian company registered its sales subsidiary ‘Tatneft-Gas Station-Tashkent’ in Nurafshon city.

Tatneft is one of the largest Russian oil companies. Its industrial complex includes steadily developing enterprises of crude oil and gas production, petroleum refining, petrochemicals production, the tire-manufacturing complex, network of filling stations and services. Tatneft also has a stake in the financial sector companies (banking and insurance).