Hydrocarbons occupy a vital role in our life and continue to play an important role for many more years to come. We need to follow all technological innovations to continue our productivity standards to achieve our production targets. Let us extend our vision to achieve this mission.

Thursday, May 19, 2011

ONGC, Uzbekneftegaz Join in Uzbek Exploration

ONGC Videsh (OVL) entered in to a Memorandum of Understanding (MOU) with Uzbekneftegaz (UNG), the National Oil Company of Uzbekistan for Joint Cooperation in the Upstream E&P sector of Uzbekistan as well as third countries. The MOU was signed on May 17, 2011 by Mr. Satpal Garg, Director (Finance) of OVL and Mr. Shokir Faizullayev, Chairman, Uzbekneftegaz in the presence of H.E. Mr. Rustam Azimov, First Deputy Prime Minister, Minister of Finance of Uzbekistan.

Uzbekistan has long been an important gas producer and ranks 13th in terms of global gas supply. The MOU provides for the formation of Joint Working Group consisting of experts from both the companies for identifying specific oil & gas fields in Uzbekistan and the areas in third countries for E&P activities through Joint Cooperation.

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